Corteva, Inc. (NYSE:CTVA) Shares Sold by Profund Advisors LLC

Profund Advisors LLC decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,099 shares of the company’s stock after selling 1,113 shares during the period. Profund Advisors LLC’s holdings in Corteva were worth $922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTVA. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva during the first quarter valued at approximately $25,000. Acadian Asset Management LLC purchased a new stake in shares of Corteva in the first quarter valued at $25,000. Rise Advisors LLC boosted its position 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 period. ICA Group Wealth Management LLC purchased a new position in shares of Corteva during the fourth quarter valued at $28,000. Finally, Scarborough Advisors LLC acquired a new position in Corteva during the fourth quarter valued at $29,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

NYSE:CTVA opened at $58.00 on Tuesday. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.92. The company has a market capitalization of $40.42 billion, a price-to-earnings ratio of 73.42, a PEG ratio of 1.60 and a beta of 0.77. The company has a 50-day moving average of $54.78 and a 200-day moving average of $54.80. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The company 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%. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. 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%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is presently 86.08%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CTVA. OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. 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 research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.