Cambridge Investment Research Advisors Inc. Has $3.46 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Cambridge Investment Research Advisors Inc. lessened its holdings in Corteva, Inc. (NYSE:CTVAGet Rating) by 2.9% during the first quarter, HoldingsChannel reports. The fund owned 60,238 shares of the company’s stock after selling 1,781 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Corteva were worth $3,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sierra Capital LLC increased its stake in Corteva by 402.9% in the 4th quarter. Sierra Capital LLC now owns 523 shares of the company’s stock valued at $25,000 after buying an additional 419 shares during the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new stake in Corteva in the 4th quarter valued at about $25,000. Carl Stuart Investment Advisor Inc. purchased a new stake in Corteva in the 1st quarter valued at about $28,000. CKW Financial Group increased its stake in Corteva by 1,083.7% in the 1st quarter. CKW Financial Group now owns 509 shares of the company’s stock valued at $30,000 after buying an additional 466 shares during the last quarter. Finally, Fieldpoint Private Securities LLC increased its stake in Corteva by 106.0% in the 1st quarter. Fieldpoint Private Securities LLC now owns 546 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the last quarter. Institutional investors and hedge funds own 79.02% of the company’s stock.

Corteva Stock Up 0.7 %

CTVA opened at $61.24 on Friday. The company has a 50 day moving average of $56.75 and a 200 day moving average of $56.75. The company has a current ratio of 1.88, a quick ratio of 1.35 and a debt-to-equity ratio of 0.05. Corteva, Inc. has a 12 month low of $40.72 and a 12 month high of $64.03. The company has a market cap of $44.32 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.58 and a beta of 0.72.

Corteva (NYSE:CTVAGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.47 by $0.17. Corteva had a net margin of 10.31% and a return on equity of 7.26%. The firm had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period last year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Corteva, Inc. will post 2.57 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, August 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.98%. This is an increase from Corteva’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, August 11th. Corteva’s dividend payout ratio (DPR) is presently 25.32%.

Analyst Ratings Changes

CTVA has been the subject of several research analyst reports. Barclays initiated coverage on shares of Corteva in a research note on Wednesday, June 1st. They set an “overweight” rating and a $71.00 price target for the company. Roth Capital upgraded shares of Corteva from a “neutral” rating to a “buy” rating and raised their price target for the stock from $67.00 to $74.00 in a research note on Monday, August 8th. Royal Bank of Canada raised their price target on shares of Corteva from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 9th. Credit Suisse Group raised their price target on shares of Corteva to $72.00 in a research note on Tuesday, August 9th. Finally, Argus raised their price target on shares of Corteva from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, May 23rd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $67.21.

Corteva Profile

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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.

See Also

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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