Bridges Investment Management Inc. Buys Shares of 4,677 Corteva, Inc. (NYSE:CTVA)

Bridges Investment Management Inc. bought a new position in Corteva, Inc. (NYSE:CTVA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,677 shares of the company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also modified their holdings of CTVA. Redmont Wealth Advisors LLC acquired a new stake in Corteva during the 1st quarter worth about $25,000. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the 1st quarter valued at $25,000. Rise Advisors LLC boosted its stake 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. ICA Group Wealth Management LLC purchased a new position in shares of Corteva during the 4th quarter valued at $28,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Corteva during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of NYSE CTVA opened at $57.58 on Monday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.92. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The company has a market cap of $40.13 billion, a P/E ratio of 72.89, a P/E/G ratio of 1.60 and a beta of 0.77. The business’s 50 day moving average is $54.68 and its two-hundred day moving average is $54.77.

Corteva (NYSE:CTVA) last released 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. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 EPS. On average, equities analysts expect that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on CTVA shares. KeyCorp lowered their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Mizuho dropped their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

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.