Raymond James & Associates Has $29.71 Million Position in Corteva, Inc. (NYSE:CTVA)

Raymond James & Associates raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 23.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 505,375 shares of the company’s stock after purchasing an additional 94,689 shares during the period. Raymond James & Associates owned 0.07% of Corteva worth $29,711,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its position in shares of Corteva by 23.6% during the 1st quarter. AdvisorNet Financial Inc now owns 4,644 shares of the company’s stock worth $268,000 after purchasing an additional 887 shares during the last quarter. Brookstone Capital Management bought a new position in Corteva during the first quarter worth $204,000. GoalVest Advisory LLC acquired a new position in Corteva during the 1st quarter valued at $49,000. Wealthcare Advisory Partners LLC boosted its holdings in Corteva by 20.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,435 shares of the company’s stock valued at $371,000 after purchasing an additional 1,074 shares during the period. Finally, Janiczek Wealth Management LLC increased its holdings in shares of Corteva by 27.1% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,252 shares of the company’s stock worth $130,000 after purchasing an additional 480 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTVA. JPMorgan Chase & Co. reduced their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. Citigroup initiated coverage on Corteva in a research report on Wednesday. They set a “buy” rating and a $68.00 price objective on the stock. KeyCorp reduced their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and boosted their price target for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $62.50.

Corteva Trading Up 2.8 %

CTVA opened at $60.79 on Thursday. 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 firm has a 50-day moving average price of $56.84 and a two-hundred day moving average price of $55.13. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $60.88. The stock has a market capitalization of $42.37 billion, a PE ratio of 76.95, a PEG ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.60 earnings per share. As a group, equities analysts anticipate that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. Corteva’s payout ratio 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.