Corteva, Inc. (NYSE:CTVA) Shares Purchased by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV raised its holdings in Corteva, Inc. (NYSE:CTVA) by 9.8% during the second quarter, Holdings Channel reports. The institutional investor owned 4,649 shares of the company’s stock after buying an additional 414 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Corteva were worth $251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital International Investors lifted its stake in Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after purchasing an additional 678,722 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Corteva by 19.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after buying an additional 2,141,428 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after buying an additional 310,012 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Corteva by 7.2% in the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after buying an additional 617,030 shares during the last quarter. Finally, Harris Associates L P raised its stake in Corteva by 87.1% during 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 in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CTVA. Canaccord Genuity Group upped their price objective on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Royal Bank of Canada upped their target price on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. cut their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Mizuho cut their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. One 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.com, Corteva currently has an average rating of “Moderate Buy” and an average target price of $61.67.

Corteva Stock Performance

CTVA traded up $0.30 during trading on Friday, reaching $57.30. The company’s stock had a trading volume of 4,229,108 shares, compared to its average volume of 3,343,962. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.72. The company’s fifty day moving average price is $53.49 and its 200-day moving average price is $54.54. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The company has a market capitalization of $39.94 billion, a price-to-earnings ratio of 71.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.60 EPS. On average, equities analysts forecast that Corteva, Inc. will post 2.73 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.17 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. Corteva’s dividend payout ratio (DPR) is 86.08%.

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.