Envestnet Portfolio Solutions Inc. Has $3.33 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Envestnet Portfolio Solutions Inc. cut its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 28.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,945 shares of the company's stock after selling 20,861 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Corteva were worth $3,332,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CTVA. Brighton Jones LLC grew its stake in Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after buying an additional 11,760 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in Corteva by 9.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 37,174 shares of the company's stock worth $2,117,000 after buying an additional 3,060 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Corteva during the fourth quarter worth about $50,000. Private Advisor Group LLC grew its stake in Corteva by 7.2% during the fourth quarter. Private Advisor Group LLC now owns 30,527 shares of the company's stock worth $1,739,000 after buying an additional 2,045 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Corteva by 30.9% during the fourth quarter. Handelsbanken Fonder AB now owns 386,028 shares of the company's stock worth $21,988,000 after buying an additional 91,163 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTVA. Citigroup increased their price objective on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Oppenheimer reissued an "outperform" rating and issued a $75.00 target price (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Morgan Stanley increased their target price on shares of Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Barclays increased their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Finally, KeyCorp increased their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus price target of $71.83.

Corteva Trading Down 0.7%

NYSE CTVA traded down $0.53 during trading hours on Friday, reaching $73.59. The company's stock had a trading volume of 14,522,898 shares, compared to its average volume of 3,365,352. The firm has a fifty day simple moving average of $67.14 and a 200-day simple moving average of $62.90. The stock has a market cap of $50.20 billion, a P/E ratio of 44.87, a P/E/G ratio of 1.88 and a beta of 0.75. Corteva, Inc. has a 52 week low of $50.30 and a 52 week high of $74.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00.

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

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva's dividend payout ratio is presently 41.46%.

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.