Bangor Savings Bank Increases Holdings in Corteva, Inc. (NYSE:CTVA)

Bangor Savings Bank raised its stake in Corteva, Inc. (NYSE:CTVA) by 34.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 935 shares of the company’s stock after buying an additional 241 shares during the quarter. Bangor Savings Bank’s holdings in Corteva were worth $55,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new stake in shares of Corteva in the first quarter valued at about $25,000. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the 1st quarter worth approximately $25,000. Rise Advisors LLC raised its position 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 buying an additional 454 shares during the period. Scarborough Advisors LLC acquired a new position in Corteva in the fourth quarter valued at approximately $29,000. Finally, Albion Financial Group UT grew its position in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after acquiring an additional 220 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on CTVA shares. JPMorgan Chase & Co. reduced their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. KeyCorp lowered their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Corteva in a research note on Wednesday, June 12th. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.94.

Corteva Trading Down 1.0 %

Shares of NYSE:CTVA opened at $56.88 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $55.43 and its two-hundred day moving average is $55.00. The company has a market cap of $39.64 billion, a PE ratio of 72.00, a P/E/G ratio of 1.68 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $59.08.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the prior year, the company posted $1.60 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts predict that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

About Corteva

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.