Skandinaviska Enskilda Banken AB publ Grows Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Skandinaviska Enskilda Banken AB publ raised its stake in Corteva, Inc. (NYSE:CTVA) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,165 shares of the company’s stock after buying an additional 1,513 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Corteva were worth $7,722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. &PARTNERS increased its stake in Corteva by 4.3% in the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after purchasing an additional 200 shares in the last quarter. Herr Investment Group LLC boosted its position in Corteva by 2.8% during the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after purchasing an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV grew its holdings in Corteva by 0.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after purchasing an additional 203 shares during the last quarter. Albion Financial Group UT increased its position in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Corteva by 1.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock worth $1,037,000 after buying an additional 227 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Down 1.7 %

Shares of CTVA opened at $57.58 on Friday. The stock’s fifty day simple moving average is $54.68 and its 200 day simple moving average is $54.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.92. 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 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.

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

Corteva Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. OTR Global reissued a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Argus lowered 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 report on Wednesday, June 12th. JPMorgan Chase & Co. lowered their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Wells Fargo & Company dropped their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

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.