Corteva, Inc. $CTVA Shares Purchased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,110 shares of the company’s stock after purchasing an additional 1,290 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Corteva were worth $1,391,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CTVA. Pinney & Scofield Inc. acquired a new position in Corteva in the 4th quarter valued at $27,000. Valley National Advisers Inc. increased its stake in shares of Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after acquiring an additional 243 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Corteva in the 1st quarter worth $37,000. von Borstel & Associates Inc. acquired a new stake in shares of Corteva in the 1st quarter worth $44,000. Finally, Horizon Financial Services LLC increased its stake in shares of Corteva by 4,444.4% in the 1st quarter. Horizon Financial Services LLC now owns 818 shares of the company’s stock worth $51,000 after acquiring an additional 800 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTVA. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $83.00 target price (up from $82.00) on shares of Corteva in a research note on Friday, August 8th. KeyCorp raised their target price on Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. UBS Group raised their target price on Corteva from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Finally, Zacks Research raised Corteva to a “hold” rating in a research note on Friday, August 8th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $80.25.

Corteva Stock Performance

NYSE CTVA opened at $71.79 on Thursday. The stock has a fifty day simple moving average of $73.16 and a 200-day simple moving average of $67.96. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The stock has a market cap of $48.75 billion, a PE ratio of 35.02, a P/E/G ratio of 1.66 and a beta of 0.78. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

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

Corteva Increases Dividend

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

Corteva Company 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.