Sei Investments Co. Raises Stock Position in Corteva, Inc. (NYSE:CTVA)

Sei Investments Co. grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,273,639 shares of the company’s stock after buying an additional 41,726 shares during the quarter. Sei Investments Co. owned 0.18% of Corteva worth $68,700,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Corteva by 1.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 143,165 shares of the company’s stock valued at $7,722,000 after purchasing an additional 1,513 shares during the last quarter. AE Wealth Management LLC lifted its position in Corteva by 6.2% in the second quarter. AE Wealth Management LLC now owns 9,138 shares of the company’s stock worth $493,000 after buying an additional 534 shares during the last quarter. Bridges Investment Management Inc. purchased a new position in Corteva during the second quarter worth $252,000. Benjamin Edwards Inc. bought a new position in Corteva during the second quarter valued at $279,000. Finally, Bristol Gate Capital Partners Inc. raised its stake in shares of Corteva by 14.8% in the second quarter. Bristol Gate Capital Partners Inc. now owns 1,768,352 shares of the company’s stock valued at $95,385,000 after acquiring an additional 228,460 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA stock opened at $57.58 on Friday. The company has a market cap of $40.13 billion, a P/E 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. The stock’s 50-day moving average is $54.68 and its 200 day moving average is $54.77. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.92.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 EPS. Research analysts predict that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.18%. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. Corteva’s payout ratio is 86.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Mizuho cut their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Finally, OTR Global reiterated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price 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.