Corteva, Inc. (NYSE:CTVA) Shares Purchased by Arlington Partners LLC

Arlington Partners LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 24.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 75,698 shares of the company’s stock after purchasing an additional 15,058 shares during the quarter. Corteva accounts for 1.7% of Arlington Partners LLC’s investment portfolio, making the stock its 14th largest position. Arlington Partners LLC’s holdings in Corteva were worth $4,450,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its holdings in Corteva by 19.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 48,470 shares of the company’s stock valued at $2,850,000 after purchasing an additional 7,923 shares during the last quarter. KFA Private Wealth Group LLC acquired a new position in Corteva in the third quarter valued at approximately $255,000. Integris Wealth Management LLC purchased a new position in Corteva in the third quarter worth approximately $216,000. Raymond James & Associates grew its position in Corteva by 23.1% in the third quarter. Raymond James & Associates now owns 505,375 shares of the company’s stock worth $29,711,000 after acquiring an additional 94,689 shares during the period. Finally, Blue Trust Inc. increased its stake in Corteva by 20.4% during the third quarter. Blue Trust Inc. now owns 12,807 shares of the company’s stock worth $691,000 after acquiring an additional 2,174 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CTVA. KeyCorp lowered their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and increased their target price for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Wells Fargo & Company dropped their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Morgan Stanley restated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.21.

Corteva Stock Down 1.2 %

Shares of Corteva stock traded down $0.71 on Monday, reaching $58.70. 794,663 shares of the company were exchanged, compared to its average volume of 3,250,067. The stock’s 50 day moving average price is $56.36 and its 200-day moving average price is $55.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $59.68. The company has a market cap of $40.91 billion, a P/E ratio of 75.20, a price-to-earnings-growth ratio of 1.66 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, topping the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter in the previous year, the business posted $1.60 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.17 dividend. The ex-dividend date was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. 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.