Confluence Wealth Services Inc. Sells 4,115 Shares of Corteva, Inc. (NYSE:CTVA)

Confluence Wealth Services Inc. lessened its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 41.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,744 shares of the company's stock after selling 4,115 shares during the period. Confluence Wealth Services Inc.'s holdings in Corteva were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC purchased a new stake in Corteva in the fourth quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new position in Corteva in the fourth quarter worth about $26,000. Pinney & Scofield Inc. bought a new stake in shares of Corteva during the 4th quarter valued at about $27,000. LGT Financial Advisors LLC purchased a new stake in shares of Corteva during the 4th quarter valued at about $31,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Corteva in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Price Performance

CTVA traded up $0.24 on Thursday, hitting $77.24. 1,419,340 shares of the company's stock traded hands, compared to its average volume of 3,390,179. Corteva, Inc. has a one year low of $50.30 and a one year high of $77.89. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $52.69 billion, a price-to-earnings ratio of 47.09, a P/E/G ratio of 1.91 and a beta of 0.76. The company's 50 day simple moving average is $69.48 and its 200-day simple moving average is $63.70.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The firm had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter last year, the business posted $0.89 earnings per share. The company's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTVA. Argus raised shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a report on Monday, March 31st. Citigroup upped their price objective on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Morgan Stanley lifted their target price on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. KeyCorp boosted their price target on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.08.

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.