795 Shares in Corteva, Inc. (NYSE:CTVA) Bought by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 795 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors also recently modified their holdings of CTVA. Capital International Investors boosted its position in 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 acquiring an additional 8,260,808 shares during the last quarter. Norges Bank acquired a new position in Corteva during the fourth quarter worth $265,298,000. Harris Associates L P grew its position in Corteva by 87.1% in the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after purchasing an additional 4,194,981 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake 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 buying an additional 3,254,126 shares during the last quarter. Finally, Glenview Capital Management LLC lifted its position in Corteva by 116.6% during the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after buying an additional 2,529,539 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. OTR Global reiterated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. JPMorgan Chase & Co. dropped their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, KeyCorp lowered their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Stock Up 1.7 %

CTVA opened at $56.63 on Monday. The stock has a fifty day moving average of $54.12 and a 200-day moving average of $54.64. The company has a market capitalization of $39.20 billion, a P/E ratio of 71.68, a P/E/G ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76. 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 quarterly earnings data 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. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts expect that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. 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.