Atria Wealth Solutions Inc. Lowers Position in Corteva, Inc. (NYSE:CTVA)

Atria Wealth Solutions Inc. decreased its position in Corteva, Inc. (NYSE:CTVA) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,753 shares of the company’s stock after selling 3,244 shares during the period. Atria Wealth Solutions Inc.’s holdings in Corteva were worth $1,713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Securities Co. Ltd. acquired a new position in Corteva during the fourth quarter worth about $105,000. Schnieders Capital Management LLC grew its holdings in shares of Corteva by 9.0% in the 4th quarter. Schnieders Capital Management LLC now owns 8,670 shares of the company’s stock worth $415,000 after acquiring an additional 719 shares during the period. Wolverine Asset Management LLC grew its holdings in shares of Corteva by 180.0% in the 4th quarter. Wolverine Asset Management LLC now owns 35,000 shares of the company’s stock worth $1,677,000 after acquiring an additional 22,500 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Corteva in the 4th quarter worth approximately $173,000. Finally, New York State Common Retirement Fund grew its holdings in shares of Corteva by 72.1% in the 4th quarter. New York State Common Retirement Fund now owns 1,139,909 shares of the company’s stock worth $54,624,000 after acquiring an additional 477,468 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 2.5 %

Shares of Corteva stock opened at $54.13 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The firm has a market cap of $37.83 billion, a PE ratio of 53.07, a P/E/G ratio of 1.44 and a beta of 0.77. The business’s fifty day moving average is $55.29 and its two-hundred day moving average is $50.54. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $61.87.

Corteva (NYSE:CTVA) last issued its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period last year, the company posted $0.16 EPS. Analysts anticipate that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. Barclays upped their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a report on Friday, February 2nd. KeyCorp upped their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 target price (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Finally, Wells Fargo & Company increased their target price on Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $63.29.

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.