Peoples Financial Services CORP. Has $357,000 Stake in Corteva, Inc. (NYSE:CTVA)

Peoples Financial Services CORP. reduced its stake in Corteva, Inc. (NYSE:CTVA) by 15.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,078 shares of the company’s stock after selling 1,117 shares during the quarter. Peoples Financial Services CORP.’s holdings in Corteva were worth $357,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mediolanum International Funds Ltd acquired a new position in shares of Corteva in the 1st quarter worth approximately $2,270,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Corteva by 14.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after purchasing an additional 121,817 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Corteva during the first quarter worth about $1,965,000. Intech Investment Management LLC grew its position in Corteva by 69.5% during the 1st quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock worth $3,031,000 after acquiring an additional 21,545 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Corteva by 295.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 94,896 shares of the company’s stock valued at $5,473,000 after purchasing an additional 70,924 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CTVA. KeyCorp reduced their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Mizuho dropped their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. JPMorgan Chase & Co. reduced their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, 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 research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.21.

Corteva Price Performance

Shares of NYSE CTVA traded up $1.33 during mid-day trading on Wednesday, reaching $58.63. The company had a trading volume of 273,932 shares, compared to its average volume of 3,257,482. The firm has a market cap of $40.86 billion, a price-to-earnings ratio of 72.54, a PEG ratio of 1.66 and a beta of 0.77. 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, Inc. has a one year low of $43.22 and a one year high of $59.08. The business’s 50-day simple moving average is $55.89 and its 200 day simple moving average is $55.02.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period in the prior year, the company earned $1.60 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts predict that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.16%. The ex-dividend date was Tuesday, September 3rd. 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.