King Luther Capital Management Corp Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

King Luther Capital Management Corp decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 453,572 shares of the company’s stock after selling 5,403 shares during the period. King Luther Capital Management Corp owned 0.07% of Corteva worth $24,466,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CTVA. Capital International Investors increased its position in Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after acquiring an additional 678,722 shares during the last quarter. Northern Trust Corp raised its position in Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after purchasing an additional 310,012 shares during the period. Van ECK Associates Corp raised its position in Corteva by 7.2% in the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after purchasing an additional 617,030 shares during the period. Harris Associates L P lifted its stake in Corteva by 87.1% in the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares during the last quarter. Finally, Putnam Investments LLC boosted its position in shares of Corteva by 12.9% during the fourth quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock valued at $428,902,000 after buying an additional 1,021,733 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 1.7 %

Shares of NYSE CTVA opened at $57.58 on Friday. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.92. The business has a fifty day moving average price of $54.68 and a 200 day moving average price of $54.76. The stock has a market capitalization of $40.13 billion, a P/E ratio of 72.89, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $1.60 EPS. Equities research analysts expect that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is currently 86.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CTVA shares. JPMorgan Chase & Co. dropped their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. OTR Global reissued a “negative” rating on shares of Corteva in a research note on Friday, June 7th. KeyCorp reduced their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Finally, Wells Fargo & Company dropped their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Corteva Company Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.