Essex LLC Has $754,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Essex LLC reduced its position in Corteva, Inc. (NYSE:CTVA) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,818 shares of the company’s stock after selling 739 shares during the quarter. Essex LLC’s holdings in Corteva were worth $754,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CTVA. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva in the 1st quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new position in Corteva during the first quarter worth $25,000. Albion Financial Group UT lifted its holdings in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the period. Ironwood Wealth Management Inc. boosted its stake in shares of Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after purchasing an additional 280 shares in the last quarter. Finally, Cultivar Capital Inc. bought a new stake in shares of Corteva in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 0.8 %

NYSE CTVA opened at $59.41 on Friday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.68. The stock has a 50-day simple moving average of $56.36 and a 200 day simple moving average of $55.07. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $41.41 billion, a PE ratio of 75.20, a P/E/G ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. Corteva’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.60 EPS. Research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.17 dividend. This is a positive change 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 dividend yield of 1.14%. Corteva’s payout ratio is 86.08%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the company from $59.00 to $67.00 in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. KeyCorp dropped their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company cut their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley restated an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.21.

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.