Corteva, Inc. (NYSE:CTVA) Position Lowered by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 83,742 shares of the company’s stock after selling 310 shares during the period. Corteva comprises approximately 2.0% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 8th largest position. Murphy Pohlad Asset Management LLC’s holdings in Corteva were worth $4,923,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of Corteva during the 1st quarter worth $25,000. Capital Advisors Ltd. LLC grew its position in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares during the period. Cultivar Capital Inc. acquired a new stake in shares of Corteva during the 2nd quarter valued at approximately $34,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Corteva during the 2nd quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Corteva in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $60.86 on Friday. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $62.38. The firm’s 50 day moving average is $57.79 and its two-hundred day moving average is $55.37. The company has a market cap of $42.13 billion, a P/E ratio of 46.82, a P/E/G ratio of 1.77 and a beta of 0.77. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last issued 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 business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same period last year, the company posted $1.60 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts expect that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. Corteva’s dividend payout ratio (DPR) is 52.31%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CTVA shares. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. KeyCorp decreased their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Citigroup initiated coverage on shares of Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $62.84.

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.