Corteva, Inc. (NYSE:CTVA) Shares Sold by Equitable Trust Co.

Key Points

• Equitable Trust Co. reduced its stake in Corteva, Inc. by 35.4%, selling 3,469 shares and holding 6,318 shares worth $398,000 at the end of the reporting period.
• Wall Street analysts have raised target prices for Corteva, with estimates ranging from $71.00 to $87.00, and a consensus rating of "Moderate Buy" based on 12 buy ratings.
• Corteva recently paid a quarterly dividend of $0.17 per share, resulting in an annualized yield of 0.93% and a dividend payout ratio of 41.46%.

Equitable Trust Co. trimmed its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 35.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,318 shares of the company's stock after selling 3,469 shares during the quarter. Equitable Trust Co.'s holdings in Corteva were worth $398,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CTVA. Scissortail Wealth Management LLC increased its holdings in shares of Corteva by 72,080.0% in the 4th quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company's stock worth $206,000 after buying an additional 3,604 shares during the last quarter. Allworth Financial LP increased its stake in Corteva by 11.8% during the first quarter. Allworth Financial LP now owns 15,313 shares of the company's stock worth $945,000 after acquiring an additional 1,614 shares during the last quarter. DnB Asset Management AS raised its position in Corteva by 39.0% during the fourth quarter. DnB Asset Management AS now owns 232,902 shares of the company's stock valued at $13,266,000 after purchasing an additional 65,334 shares during the period. Brighton Jones LLC raised its holdings in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after buying an additional 11,760 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Corteva by 13.9% in the 1st quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company's stock worth $279,000 after acquiring an additional 536 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Down 0.5%

NYSE CTVA traded down $0.40 during midday trading on Wednesday, hitting $72.48. 661,541 shares of the company traded hands, compared to its average volume of 3,703,782. Corteva, Inc. has a 52 week low of $50.30 and a 52 week high of $77.41. The company's 50-day simple moving average is $72.98 and its 200-day simple moving average is $65.99. The company has a market cap of $49.44 billion, a PE ratio of 44.20, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. 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 for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 earnings per share. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.99%. This is an increase from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio (DPR) is 41.46%.

Analyst Ratings Changes

A number of analysts recently weighed in on CTVA shares. UBS Group increased their price objective on shares of Corteva from $76.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. BMO Capital Markets raised their price target on Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price objective on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, June 23rd. Morgan Stanley lifted their target price on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Citigroup upped their price target on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of "Moderate Buy" and an average target price of $77.38.

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.