Westwood Holdings Group Inc. Sells 1,713 Shares of Corteva, Inc. (NYSE:CTVA)

Westwood Holdings Group Inc. reduced its stake in Corteva, Inc. (NYSE:CTVA) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,048 shares of the company’s stock after selling 1,713 shares during the period. Westwood Holdings Group Inc.’s holdings in Corteva were worth $8,579,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in shares of Corteva in the 1st quarter worth approximately $25,000. Acadian Asset Management LLC purchased a new position in Corteva during the first quarter valued at $25,000. Rise Advisors LLC boosted its holdings 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 in the last quarter. Albion Financial Group UT grew its position in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after buying an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. increased its stake in shares of Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after acquiring an additional 280 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. KeyCorp cut their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. OTR Global restated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. JPMorgan Chase & Co. reduced their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Mizuho dropped their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Stock Down 1.7 %

CTVA stock opened at $57.58 on Monday. The company has a market cap of $40.13 billion, a price-to-earnings ratio of 72.89, a P/E/G ratio of 1.60 and a beta of 0.77. 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 business’s 50-day moving average is $54.68 and its two-hundred day moving average is $54.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week 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 for the quarter, topping the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 EPS. As a group, analysts forecast that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. Corteva’s dividend payout ratio is 86.08%.

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.