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

Tectonic Advisors LLC cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 12.7% in the third quarter, HoldingsChannel.com reports. The fund owned 13,033 shares of the company’s stock after selling 1,896 shares during the period. Tectonic Advisors LLC’s holdings in Corteva were worth $766,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CTVA. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva in the first quarter valued at about $25,000. Acadian Asset Management LLC acquired a new stake in shares of Corteva in the first quarter valued at about $25,000. Albion Financial Group UT raised its position in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Corteva in the second quarter valued at about $34,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva in the second quarter valued at about $43,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTVA. Citigroup began coverage on shares of Corteva in a research report on Wednesday. They set a “buy” rating and a $68.00 price objective for the company. Morgan Stanley restated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. Wells Fargo & Company cut their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.84.

Corteva Trading Down 0.7 %

NYSE CTVA opened at $60.35 on Friday. The firm has a 50 day simple moving average of $57.00 and a 200-day simple moving average of $55.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. Corteva, Inc. has a one year low of $43.22 and a one year high of $61.21. The firm has a market cap of $42.06 billion, a price-to-earnings ratio of 76.39, a PEG ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. Equities research analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.17 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.13%. Corteva’s dividend payout ratio (DPR) is 86.08%.

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.