Wambolt & Associates LLC Purchases 4,799 Shares of Corteva, Inc. (NYSE:CTVA)

Wambolt & Associates LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 16.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,522 shares of the company’s stock after buying an additional 4,799 shares during the period. Wambolt & Associates LLC’s holdings in Corteva were worth $1,779,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital International Investors boosted its holdings in shares of Corteva by 47.2% during the fourth 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 period. Norges Bank acquired a new stake in Corteva in the fourth quarter valued at $265,298,000. Harris Associates L P raised its position in shares of Corteva by 87.1% during the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after acquiring an additional 4,194,981 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Corteva by 392.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after buying an additional 3,254,126 shares during the last quarter. Finally, Glenview Capital Management LLC boosted its position in shares of Corteva by 116.6% during the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after purchasing an additional 2,529,539 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $55.15 on Thursday. The company has a fifty day moving average price of $53.97 and a 200-day moving average price of $54.63. The firm has a market cap of $38.18 billion, a price-to-earnings ratio of 69.81, a PEG ratio of 1.59 and a beta of 0.77. 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 $58.76.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 EPS. As a group, equities research analysts predict that Corteva, Inc. will post 2.72 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTVA. Wells Fargo & Company lowered 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. Mizuho decreased their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

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.