Corteva, Inc. (NYSE:CTVA) Shares Acquired by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. grew its position in Corteva, Inc. (NYSE:CTVA) by 392.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,083,685 shares of the company’s stock after acquiring an additional 3,254,126 shares during the period. Corteva comprises approximately 2.0% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 10th biggest position. Vaughan Nelson Investment Management L.P. owned approximately 0.59% of Corteva worth $220,274,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. &PARTNERS raised its holdings in Corteva by 4.3% in the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after acquiring an additional 200 shares in the last quarter. Herr Investment Group LLC boosted its stake in shares of Corteva by 2.8% during the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after buying an additional 200 shares during the period. Baxter Bros Inc. lifted its position in Corteva by 1.2% during the 4th quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after acquiring an additional 215 shares during the period. Albion Financial Group UT grew its position in Corteva by 77.2% in the 1st 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. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Corteva by 1.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock worth $1,037,000 after acquiring an additional 227 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 2.0 %

Shares of NYSE:CTVA traded up $1.04 during mid-day trading on Friday, hitting $53.80. 2,926,133 shares of the company traded hands, compared to its average volume of 3,371,955. The firm has a market cap of $37.50 billion, a P/E ratio of 68.10, a PEG ratio of 1.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.72. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The firm’s 50 day simple moving average is $52.89 and its 200 day simple moving average is $54.37.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, July 31st. The company reported $1.83 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 return on equity of 7.30% and a net margin of 5.31%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $1.60 EPS. On average, equities analysts anticipate that Corteva, Inc. will post 2.73 EPS for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.26%. Corteva’s payout ratio is currently 86.08%.

Analyst Upgrades and Downgrades

CTVA has been the subject of several recent analyst reports. KeyCorp reduced their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Mizuho cut their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. Oppenheimer increased their price objective on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada lifted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.67.

About Corteva

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.