Searle & CO. Has $852,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Searle & CO. lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,495 shares of the company’s stock after selling 1,598 shares during the quarter. Searle & CO.’s holdings in Corteva were worth $852,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mediolanum International Funds Ltd acquired a new stake in shares of Corteva in the first quarter worth $2,270,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Corteva by 14.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after buying an additional 121,817 shares during the period. Intech Investment Management LLC boosted its position in shares of Corteva by 69.5% in the first quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock worth $3,031,000 after buying an additional 21,545 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Corteva by 295.9% in the first quarter. Illinois Municipal Retirement Fund now owns 94,896 shares of the company’s stock worth $5,473,000 after buying an additional 70,924 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Corteva by 75.5% in the first quarter. BNP Paribas Financial Markets now owns 633,117 shares of the company’s stock worth $36,512,000 after buying an additional 272,461 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on Corteva from $57.00 to $55.00 and set a “neutral” 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 report on Friday, August 2nd. KeyCorp cut their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

Corteva Stock Performance

Shares of Corteva stock traded up $1.06 during trading on Wednesday, reaching $60.18. The company’s stock had a trading volume of 595,058 shares, compared to its average volume of 3,243,356. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The business’s fifty day moving average price is $56.66 and its 200-day moving average price is $55.09. The firm has a market cap of $41.94 billion, a price-to-earnings ratio of 74.84, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a one year low of $43.22 and a one year high of $60.23.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the business earned $1.60 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. Corteva’s dividend payout ratio (DPR) is 86.08%.

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.