Corteva, Inc. (NYSE:CTVA) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in Corteva, Inc. (NYSE:CTVA) by 22.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,289 shares of the company’s stock after selling 61,950 shares during the period. Nisa Investment Advisors LLC’s holdings in Corteva were worth $11,828,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC acquired a new stake in Corteva in the 1st quarter valued at approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of Corteva during the first quarter valued at about $25,000. Rise Advisors LLC lifted its holdings in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares during the period. Albion Financial Group UT lifted its holdings in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. grew its position in Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Up 0.9 %

Shares of NYSE CTVA traded up $0.51 during mid-day trading on Monday, reaching $54.31. The company had a trading volume of 2,506,048 shares, compared to its average volume of 3,360,173. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.72. The company has a market capitalization of $37.85 billion, a price-to-earnings ratio of 68.63, a PEG ratio of 1.46 and a beta of 0.77. The stock has a fifty day moving average of $52.89 and a two-hundred day moving average of $54.43.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period last year, the company earned $1.60 earnings per share. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Corteva, Inc. will post 2.73 EPS for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $0.17 dividend. The ex-dividend date is Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. Corteva’s dividend payout ratio is currently 86.08%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Canaccord Genuity Group increased their price target on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. OTR Global reiterated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Oppenheimer raised their price objective on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. Finally, Wells Fargo & Company reduced their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.67.

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.