Empowered Funds LLC Acquires Shares of 139,854 Corteva, Inc. $CTVA

Key Points

• Empowered Funds LLC acquired 139,854 Corteva shares during the second quarter, valued at approximately $11.8 million. Institutional investors and hedge funds collectively own 81.54% of the company.
• Corteva reported quarterly earnings of $2.30 per share, exceeding estimates of $2.24, while revenue of $6.38 billion fell short of expectations and declined 1.2% year over year.
• The company declared a quarterly dividend of $0.18 per share, equivalent to a 0.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $91.50.

Empowered Funds LLC bought a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 139,854 shares of the company's stock, valued at approximately $11,844,000.

A number of other institutional investors have also modified their holdings of CTVA. EFG International AG acquired a new stake in shares of Corteva during the second quarter worth $25,000. Compass Financial Management LLC purchased a new position in Corteva in the 2nd quarter valued at $25,000. Elevation Wealth Partners LLC increased its stake in Corteva by 334.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 339 shares of the company's stock valued at $29,000 after buying an additional 261 shares during the period. Clearstead Trust LLC purchased a new position in Corteva during the 2nd quarter worth $31,000. Finally, JPL Wealth Management LLC purchased a new position in Corteva during the 3rd quarter worth $25,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Trading Up 1.9%

Shares of CTVA opened at $84.00 on Friday. Corteva, Inc. has a twelve month low of $60.53 and a twelve month high of $90.97. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $56.04 billion, a P/E ratio of 55.63, a PEG ratio of 2.58 and a beta of 0.57. The firm's 50-day moving average is $82.69 and its two-hundred day moving average is $80.54.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%.Corteva's quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, research analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva's payout ratio is 47.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an "overweight" rating on shares of Corteva in a research note on Friday. Oppenheimer lifted their price objective on Corteva from $89.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Zacks Research cut Corteva from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. BNP Paribas Exane increased their target price on Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on Corteva from $77.00 to $83.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.50.

Corteva Company Profile

Corteva, Inc NYSE: CTVA is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva's operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.

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