Nisa Investment Advisors LLC Reduces Stock Position in Corteva, Inc. (NYSE:CTVA)

Nisa Investment Advisors LLC lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 22.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,289 shares of the company’s stock after selling 61,950 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Corteva were worth $11,828,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva in the first quarter worth $25,000. Acadian Asset Management LLC purchased a new stake in Corteva in the first quarter valued at $25,000. Rise Advisors LLC grew its position in Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares during the period. Albion Financial Group UT raised its stake in shares of Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. lifted its holdings in shares of Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after buying an additional 280 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTVA has been the subject of a number of analyst reports. Wells Fargo & Company lowered 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. OTR Global reissued a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Oppenheimer upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Canaccord Genuity Group increased their price objective on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Price Performance

Shares of CTVA stock traded up $0.51 during trading hours on Monday, hitting $54.31. The company’s stock had a trading volume of 2,506,048 shares, compared to its average volume of 3,360,173. The company has a current ratio of 1.72, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $52.89 and a 200-day moving average of $54.43. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The stock has a market cap of $37.85 billion, a price-to-earnings ratio of 68.63, a P/E/G ratio of 1.46 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. Corteva’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.73 EPS for the current year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.25%. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

Corteva 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.