Corteva, Inc. (NYSE:CTVA) Shares Sold by City Holding Co.

City Holding Co. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 6.1% during the second quarter, HoldingsChannel reports. The fund owned 15,279 shares of the company’s stock after selling 1,000 shares during the quarter. City Holding Co.’s holdings in Corteva were worth $824,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the first quarter worth about $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva during the first quarter worth about $25,000. Rise Advisors LLC increased its stake in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter worth about $28,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Corteva during the fourth quarter worth about $29,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 0.0 %

Shares of CTVA traded up $0.01 on Friday, hitting $51.56. 1,841,168 shares of the stock traded hands, compared to its average volume of 3,409,504. The company has a quick ratio of 0.97, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $35.94 billion, a P/E ratio of 65.27, a P/E/G ratio of 1.46 and a beta of 0.77. The stock’s 50 day moving average is $53.08 and its two-hundred day moving average is $54.08. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76.

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, beating the consensus estimate of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 earnings per share. As a group, sell-side analysts predict that Corteva, Inc. will post 2.73 earnings per share for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. Corteva’s dividend payout ratio is presently 86.08%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CTVA shares. JPMorgan Chase & Co. lowered their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday. Oppenheimer upped their target price on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. KeyCorp lowered their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group upped their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Insiders Place Their Bets

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

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.