Diversified LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

Diversified LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 4,557 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors have also recently bought and sold shares of the business. &PARTNERS grew its position in shares of Corteva by 4.3% in the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after purchasing an additional 200 shares during the last quarter. Herr Investment Group LLC increased its position in Corteva by 2.8% during the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after buying an additional 200 shares during the period. Baxter Bros Inc. boosted its position in shares of Corteva by 1.2% in the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after acquiring an additional 215 shares during the period. Albion Financial Group UT grew its stake in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Corteva by 1.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock worth $1,037,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 1.9 %

Shares of Corteva stock traded up $1.03 during trading on Friday, reaching $55.58. 4,475,876 shares of the company traded hands, compared to its average volume of 3,342,706. The firm has a market capitalization of $38.74 billion, a PE ratio of 70.35, a P/E/G ratio of 1.46 and a beta of 0.77. The company has a 50 day moving average price of $53.17 and a 200-day moving average price of $54.47. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 0.97. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76.

Corteva (NYSE:CTVA) last announced its quarterly 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 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 analyst estimates of $6.15 billion. During the same quarter in the previous year, the business posted $1.60 EPS. Corteva’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that Corteva, Inc. will post 2.73 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared 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. 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 yield of 1.22%. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CTVA shares. Royal Bank of Canada raised their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. KeyCorp lowered their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group raised their price objective on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Company lowered their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.