Benjamin Edwards Inc. Purchases Shares of 5,171 Corteva, Inc. (NYSE:CTVA)

Benjamin Edwards Inc. purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,171 shares of the company’s stock, valued at approximately $279,000.

A number of other large investors have also recently bought and sold shares of the stock. Capital International Investors grew its position in Corteva by 2.6% in 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 period. Northern Trust Corp grew its position in Corteva by 2.5% in the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after acquiring an additional 310,012 shares during the period. Van ECK Associates Corp grew its holdings in shares of Corteva by 7.2% during the first 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 last quarter. Harris Associates L P grew its holdings in shares of Corteva by 87.1% during 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 grew its holdings 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 worth $428,902,000 after purchasing an additional 1,021,733 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Down 1.7 %

Shares of NYSE:CTVA opened at $57.58 on Friday. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market capitalization of $40.13 billion, a PE ratio of 72.89, a PEG ratio of 1.60 and a beta of 0.77. The company has a 50 day moving average price of $54.68 and a two-hundred day moving average price of $54.77.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts forecast that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.18%. 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 is presently 86.08%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Mizuho decreased their target price on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Wells Fargo & Company decreased their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, OTR Global restated a “negative” rating on shares of Corteva in a report on Friday, June 7th. One equities 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’s stock. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target 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.