Daymark Wealth Partners LLC Increases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Daymark Wealth Partners LLC boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 86.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,612 shares of the company’s stock after purchasing an additional 14,157 shares during the period. Daymark Wealth Partners LLC’s holdings in Corteva were worth $1,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Capital International Investors increased its position in shares of Corteva by 47.2% during the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after purchasing an additional 8,260,808 shares during the last quarter. Harris Associates L P lifted its holdings in shares of Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after acquiring an additional 4,194,981 shares during the last quarter. Anomaly Capital Management LP purchased a new position in shares of Corteva during the 2nd quarter worth approximately $188,578,000. Vaughan Nelson Investment Management L.P. increased its holdings in Corteva by 392.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after purchasing an additional 3,254,126 shares during the last quarter. Finally, Glenview Capital Management LLC raised its position in Corteva by 116.6% in the fourth quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after purchasing an additional 2,529,539 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of CTVA opened at $58.02 on Friday. The company has a market capitalization of $40.44 billion, a price-to-earnings ratio of 73.44, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. Corteva, Inc. has a 52-week low of $43.22 and a 52-week 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 stock has a 50 day moving average price of $54.89 and a 200 day moving average price of $54.84.

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

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research note on Tuesday. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company cut their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Mizuho decreased their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $61.94.

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.