Edgestream Partners L.P. Takes $4.78 Million Position in Corteva, Inc. (NYSE:CTVA)

Edgestream Partners L.P. bought a new stake in Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 88,555 shares of the company’s stock, valued at approximately $4,777,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new position in Corteva during the first quarter worth approximately $25,000. Acadian Asset Management LLC purchased a new position in Corteva during the first quarter worth approximately $25,000. Rise Advisors LLC lifted its position in 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 buying an additional 454 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Corteva during the fourth quarter worth approximately $28,000. Finally, Scarborough Advisors LLC purchased a new position in Corteva during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CTVA shares. Wells Fargo & Company reduced their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Mizuho cut their target price on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. KeyCorp cut their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Argus cut Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Trading Up 1.4 %

CTVA opened at $57.04 on Wednesday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.76. The stock has a market capitalization of $39.76 billion, a price-to-earnings ratio of 72.20, a PEG ratio of 1.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The business has a fifty day moving average price of $54.34 and a 200 day moving average price of $54.69.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period in the previous year, the firm posted $1.60 EPS. Corteva’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts expect that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.19%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. Corteva’s payout ratio is presently 86.08%.

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.