Janney Montgomery Scott LLC Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

Janney Montgomery Scott LLC increased its holdings in Corteva, Inc. (NYSE:CTVAFree Report) by 17.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,088 shares of the company’s stock after purchasing an additional 17,553 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Corteva were worth $5,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in CTVA. Moneta Group Investment Advisors LLC raised its holdings in Corteva by 110,628.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock worth $464,652,000 after acquiring an additional 7,897,795 shares during the last quarter. Norges Bank purchased a new position in Corteva in the 4th quarter worth approximately $328,936,000. Wells Fargo & Company MN raised its holdings in Corteva by 283.5% in the 2nd quarter. Wells Fargo & Company MN now owns 4,482,718 shares of the company’s stock worth $256,860,000 after acquiring an additional 3,313,768 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in Corteva by 38.1% in the 2nd quarter. Independent Franchise Partners LLP now owns 11,292,296 shares of the company’s stock worth $647,049,000 after acquiring an additional 3,115,825 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Corteva by 29.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after purchasing an additional 2,545,570 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CTVA. BMO Capital Markets cut their target price on shares of Corteva from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. KeyCorp lifted their target price on shares of Corteva from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Oppenheimer lifted their target price on shares of Corteva from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Barclays lifted their target price on shares of Corteva from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Finally, Morgan Stanley cut their price objective on shares of Corteva from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, November 10th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $62.84.

Read Our Latest Stock Analysis on CTVA

Insiders Place Their Bets

In other news, EVP Robert D. King acquired 640 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was acquired at an average price of $46.77 per share, with a total value of $29,932.80. Following the completion of the purchase, the executive vice president now directly owns 59,701 shares in the company, valued at $2,792,215.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Samuel R. Eathington bought 1,094 shares of Corteva stock in a transaction dated Tuesday, November 28th. The shares were acquired at an average cost of $46.07 per share, with a total value of $50,400.58. Following the completion of the transaction, the insider now owns 41,066 shares in the company, valued at approximately $1,891,910.62. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert D. King bought 640 shares of Corteva stock in a transaction dated Tuesday, November 14th. The shares were bought at an average cost of $46.77 per share, for a total transaction of $29,932.80. Following the completion of the transaction, the executive vice president now owns 59,701 shares of the company’s stock, valued at approximately $2,792,215.77. The disclosure for this purchase can be found here. 0.14% of the stock is owned by insiders.

Corteva Stock Up 0.7 %

Shares of NYSE CTVA opened at $53.60 on Monday. The firm’s 50-day moving average price is $47.23 and its 200-day moving average price is $49.10. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $37.77 billion, a price-to-earnings ratio of 52.55, a P/E/G ratio of 1.37 and a beta of 0.73. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $64.98.

Corteva (NYSE:CTVAGet Free Report) last announced its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period in the prior year, the company earned $0.16 EPS. On average, equities research analysts anticipate that Corteva, Inc. will post 2.87 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, February 29th. Corteva’s payout ratio is currently 62.75%.

About Corteva

(Free Report)

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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