Private Advisor Group LLC Has $4.69 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Private Advisor Group LLC grew its holdings in Corteva, Inc. (NYSE:CTVA) by 12.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 81,911 shares of the company’s stock after acquiring an additional 8,802 shares during the period. Private Advisor Group LLC’s holdings in Corteva were worth $4,689,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CTVA. Kingsview Wealth Management LLC grew its holdings in Corteva by 2.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 7,660 shares of the company’s stock worth $438,000 after acquiring an additional 153 shares during the last quarter. Centaurus Financial Inc. raised its holdings in shares of Corteva by 4.9% in the first quarter. Centaurus Financial Inc. now owns 3,867 shares of the company’s stock valued at $233,000 after purchasing an additional 182 shares during the last quarter. FineMark National Bank & Trust grew its stake in shares of Corteva by 2.8% in the first quarter. FineMark National Bank & Trust now owns 6,937 shares of the company’s stock valued at $418,000 after buying an additional 192 shares in the last quarter. Laidlaw Wealth Management LLC grew its stake in shares of Corteva by 5.1% in the fourth quarter. Laidlaw Wealth Management LLC now owns 3,968 shares of the company’s stock valued at $233,000 after buying an additional 194 shares in the last quarter. Finally, Independent Advisor Alliance grew its stake in shares of Corteva by 2.3% in the second quarter. Independent Advisor Alliance now owns 8,829 shares of the company’s stock valued at $506,000 after buying an additional 196 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robert D. King purchased 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 acquisition, the executive vice president now owns 59,701 shares in the company, valued at approximately $2,792,215.77. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO David J. Anderson bought 2,000 shares of the stock in a transaction dated Friday, September 15th. The shares were bought at an average cost of $52.97 per share, with a total value of $105,940.00. Following the completion of the transaction, the chief financial officer now directly owns 65,308 shares of the company’s stock, valued at $3,459,364.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert D. King purchased 640 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average cost of $46.77 per share, with a total value of $29,932.80. Following the completion of the transaction, the executive vice president now directly owns 59,701 shares in the company, valued at approximately $2,792,215.77. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,990 shares of company stock valued at $151,066. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on CTVA shares. Argus decreased their target price on shares of Corteva from $78.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, August 17th. UBS Group raised shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $67.00 in a research report on Tuesday, September 5th. KeyCorp reduced their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 10th. Barclays cut shares of Corteva from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $66.00 to $50.00 in a research report on Tuesday, November 14th. Finally, Oppenheimer raised shares of Corteva from a “market perform” rating to an “outperform” rating and set a $67.00 price objective for the company in a research report on Friday, October 20th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.44.

Corteva Stock Up 0.7 %

CTVA stock opened at $47.32 on Friday. The company has a market cap of $33.35 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 1.39 and a beta of 0.80. The business has a 50-day simple moving average of $49.64 and a 200 day simple moving average of $53.14. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $67.55. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.63 billion. Corteva had a return on equity of 7.47% and a net margin of 5.38%. Corteva’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Sell-side analysts anticipate that Corteva, Inc. will post 2.61 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, November 30th. Corteva’s payout ratio is 49.23%.

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.