Global Trust Asset Management LLC Lowers Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Global Trust Asset Management LLC reduced its stake in Corteva, Inc. (NYSE:CTVA) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,726 shares of the company’s stock after selling 354 shares during the quarter. Global Trust Asset Management LLC’s holdings in Corteva were worth $748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CTVA. Anomaly Capital Management LP acquired a new stake in shares of Corteva in the 2nd quarter valued at approximately $188,578,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Corteva by 392.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after buying an additional 3,254,126 shares during the period. Bank of New York Mellon Corp raised its holdings in Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after purchasing an additional 1,514,954 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in Corteva by 700.2% during the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after purchasing an additional 1,139,297 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in Corteva by 155.7% during the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock worth $91,389,000 after purchasing an additional 1,031,678 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $60.79 on Friday. The firm has a market capitalization of $42.37 billion, a PE ratio of 76.95, a P/E/G ratio of 1.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The business has a 50-day moving average of $56.84 and a two-hundred day moving average of $55.13. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.20.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 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 company had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period in the prior year, the firm posted $1.60 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, research analysts forecast that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is 86.08%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTVA. KeyCorp reduced their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company cut their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.84.

Corteva 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.