Ieq Capital LLC Decreases Stock Holdings in Corteva, Inc. $CTVA

Ieq Capital LLC decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 34.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,307 shares of the company’s stock after selling 2,755 shares during the quarter. Ieq Capital LLC’s holdings in Corteva were worth $334,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cary Street Partners Financial LLC raised its stake in Corteva by 20.7% during the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock valued at $5,677,000 after purchasing an additional 15,448 shares in the last quarter. Scissortail Wealth Management LLC raised its stake in Corteva by 72,080.0% during the fourth quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company’s stock valued at $206,000 after purchasing an additional 3,604 shares in the last quarter. Allworth Financial LP raised its stake in shares of Corteva by 11.8% in the first quarter. Allworth Financial LP now owns 15,313 shares of the company’s stock valued at $945,000 after acquiring an additional 1,614 shares during the period. Brighton Jones LLC raised its stake in shares of Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after acquiring an additional 11,760 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Corteva by 13.9% in the first quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company’s stock valued at $279,000 after acquiring an additional 536 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.6%

NYSE CTVA opened at $72.24 on Friday. The company’s 50-day moving average price is $73.34 and its 200-day moving average price is $67.77. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The stock has a market cap of $49.06 billion, a PE ratio of 35.24, a PEG ratio of 1.66 and a beta of 0.78. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio (DPR) is currently 35.12%.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CTVA shares. KeyCorp increased their target price on shares of Corteva from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Zacks Research raised shares of Corteva to a “hold” rating in a research note on Friday, August 8th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Morgan Stanley increased their target price on shares of Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $83.00 target price (up previously from $82.00) on shares of Corteva in a research note on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.25.

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.