Avidian Wealth Enterprises LLC Has $257,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Avidian Wealth Enterprises LLC reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 18.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,364 shares of the company’s stock after selling 964 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Corteva were worth $257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Anomaly Capital Management LP bought a new position in shares of Corteva during the second quarter valued at $188,578,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Corteva by 392.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after purchasing an additional 3,254,126 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Corteva by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after purchasing an additional 1,514,954 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Corteva by 700.2% in the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock valued at $70,230,000 after buying an additional 1,139,297 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake 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 buying an additional 1,031,678 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Corteva stock opened at $58.64 on Friday. The firm has a market capitalization of $40.59 billion, a P/E ratio of 45.11, a PEG ratio of 1.76 and a beta of 0.77. The business has a 50-day moving average of $58.14 and a 200-day moving average of $55.55. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $63.75.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.18). The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.69 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. On average, equities analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is presently 52.31%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CTVA shares. Wells Fargo & Company cut their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Citigroup initiated coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.21.

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.