Ensign Peak Advisors Inc Sells 101,635 Shares of Corteva, Inc. (NYSE:CTVA)

Ensign Peak Advisors Inc reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 28.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,526 shares of the company’s stock after selling 101,635 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Corteva were worth $13,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Redmont Wealth Advisors LLC bought a new stake in Corteva in the 1st quarter worth approximately $25,000. Acadian Asset Management LLC bought a new position in shares of Corteva in the 1st quarter worth approximately $25,000. Rise Advisors LLC boosted its holdings in shares of Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after buying an additional 454 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in Corteva during the fourth quarter valued at approximately $28,000. Finally, Scarborough Advisors LLC purchased a new stake in Corteva during the fourth quarter valued at approximately $29,000. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research report on Friday, June 7th. JPMorgan Chase & Co. reduced their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.67.

Corteva Stock Up 0.7 %

NYSE CTVA opened at $58.00 on Tuesday. The stock has a 50 day moving average price of $54.78 and a 200-day moving average price of $54.80. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.92. The company has a market capitalization of $40.42 billion, a P/E ratio of 73.42, 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.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share 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 business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 EPS. As a group, equities analysts predict that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.17 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.17%. Corteva’s 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.