CW Advisors LLC Has $7.74 Million Position in Corteva, Inc. $CTVA

Key Points

• CW Advisors LLC increased its stake in Corteva, Inc. (NYSE: CTVA) by 12.6%, owning 123,065 shares valued at approximately $7.74 million.
• Corteva's quarterly earnings surpassed expectations, reporting $2.20 EPS and revenue of $6.46 billion, marking a 5.6% increase year-over-year.
• The company announced a dividend increase to $0.18 per share, reflecting a 1.0% yield, with the dividend payable on September 15th.

CW Advisors LLC lifted its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 12.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,065 shares of the company's stock after purchasing an additional 13,801 shares during the period. CW Advisors LLC's holdings in Corteva were worth $7,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legacy Financial Advisors Inc. increased its holdings in shares of Corteva by 4.4% in the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company's stock valued at $237,000 after purchasing an additional 160 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Corteva by 1.9% in the first quarter. Signaturefd LLC now owns 9,353 shares of the company's stock valued at $589,000 after purchasing an additional 172 shares in the last quarter. NTV Asset Management LLC increased its holdings in shares of Corteva by 3.3% in the first quarter. NTV Asset Management LLC now owns 5,457 shares of the company's stock valued at $343,000 after purchasing an additional 173 shares in the last quarter. Avantax Planning Partners Inc. increased its holdings in shares of Corteva by 4.1% in the first quarter. Avantax Planning Partners Inc. now owns 4,539 shares of the company's stock valued at $286,000 after purchasing an additional 178 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Corteva by 1.4% in the first quarter. PFG Investments LLC now owns 12,867 shares of the company's stock valued at $810,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CTVA shares. Royal Bank Of Canada reissued an "outperform" rating on shares of Corteva in a report on Monday, August 11th. Zacks Research raised shares of Corteva to a "hold" rating in a research note on Friday, August 8th. BMO Capital Markets raised their price objective on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $83.00 price objective (up from $82.00) on shares of Corteva in a research note on Friday, August 8th. Finally, Barclays raised shares of Corteva from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $80.25.

Corteva Stock Performance

Shares of Corteva stock opened at $73.3150 on Friday. The company has a market capitalization of $49.79 billion, a PE ratio of 35.76, a PEG ratio of 1.67 and a beta of 0.75. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The stock's fifty day simple moving average is $73.42 and its 200 day simple moving average is $67.04.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm's revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 EPS. On average, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.0%. This is an increase from Corteva's previous quarterly dividend of $0.17. Corteva's payout ratio is presently 33.17%.

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.

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