Lombard Odier Asset Management Europe Ltd Increases Position in Corteva, Inc. (NYSE:CTVA)

Lombard Odier Asset Management Europe Ltd raised its holdings in Corteva, Inc. (NYSE:CTVA) by 63.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 241,300 shares of the company’s stock after acquiring an additional 93,472 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Corteva were worth $13,016,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Redmont Wealth Advisors LLC purchased a new stake in shares of Corteva during the 1st quarter worth about $25,000. Acadian Asset Management LLC purchased a new position in shares of Corteva in the 1st quarter valued at $25,000. Rise Advisors LLC lifted its holdings in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares in the last quarter. Albion Financial Group UT boosted its position in Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. increased its holdings in Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after purchasing an additional 280 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. KeyCorp dropped their price objective 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. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. Wells Fargo & Company lowered their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, OTR Global restated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Price Performance

Shares of NYSE:CTVA opened at $57.58 on Monday. The stock has a market cap of $40.13 billion, a price-to-earnings ratio of 72.89, a PEG 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, Inc. has a 12 month low of $43.22 and a 12 month high of $58.92. The stock’s 50 day moving average price is $54.68 and its 200 day moving average price is $54.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the business earned $1.60 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Corteva, Inc. will post 2.69 earnings per share 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 paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is currently 86.08%.

Corteva 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.