Carret Asset Management LLC Cuts Holdings in Corteva, Inc. (NYSE:CTVA)

Carret Asset Management LLC decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 5.1% in the first quarter, HoldingsChannel reports. The firm owned 4,508 shares of the company’s stock after selling 240 shares during the quarter. Carret Asset Management LLC’s holdings in Corteva were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CTVA. CVA Family Office LLC purchased a new position in Corteva in the fourth quarter worth about $25,000. BKM Wealth Management LLC purchased a new position in Corteva in the fourth quarter worth about $27,000. Rise Advisors LLC grew its position 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 acquiring an additional 454 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Corteva in the fourth quarter worth about $28,000. Finally, Scarborough Advisors LLC purchased a new position in Corteva in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. KeyCorp boosted their target price on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Wells Fargo & Company boosted their target price on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Canaccord Genuity Group boosted their target price on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. BMO Capital Markets boosted their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 target price on shares of Corteva in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $52.48 on Thursday. The company has a market capitalization of $36.58 billion, a price-to-earnings ratio of 66.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $54.68 and a 200 day moving average of $52.92.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. Corteva’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 earnings per share. On average, sell-side analysts predict that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Tuesday, June 4th. Corteva’s payout ratio is presently 81.01%.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,556 shares of company stock valued at $4,795,016. Corporate insiders own 0.20% of the company’s stock.

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.