Janney Montgomery Scott LLC Purchases 5,748 Shares of Corteva, Inc. (NYSE:CTVA)

Janney Montgomery Scott LLC raised its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,705 shares of the company's stock after buying an additional 5,748 shares during the period. Janney Montgomery Scott LLC's holdings in Corteva were worth $7,596,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CTVA. Brighton Jones LLC grew its holdings in shares of Corteva by 307.2% during the fourth 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 in the last quarter. Atria Wealth Solutions Inc. grew its stake in Corteva by 9.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 37,174 shares of the company's stock valued at $2,117,000 after acquiring an additional 3,060 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at about $50,000. Private Advisor Group LLC lifted its position in shares of Corteva by 7.2% in the fourth quarter. Private Advisor Group LLC now owns 30,527 shares of the company's stock worth $1,739,000 after purchasing an additional 2,045 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Corteva by 30.9% in the fourth quarter. Handelsbanken Fonder AB now owns 386,028 shares of the company's stock worth $21,988,000 after purchasing an additional 91,163 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

Shares of CTVA stock traded down $0.53 during trading hours on Friday, hitting $73.59. 14,522,898 shares of the company's stock were exchanged, compared to its average volume of 3,365,352. The stock's 50-day moving average is $67.14 and its 200-day moving average is $62.90. 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, Inc. has a 52 week low of $50.30 and a 52 week high of $74.84. The stock has a market cap of $50.20 billion, a price-to-earnings ratio of 44.87, a price-to-earnings-growth ratio of 1.88 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $4.56 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The company's revenue was down 1.7% on a year-over-year basis. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

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

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research analyst reports. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a research report on Monday, March 31st. UBS Group lifted their price objective on shares of Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Citigroup raised their target price on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. KeyCorp boosted their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company lifted their price objective on Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Three equities 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 presently has a consensus rating of "Moderate Buy" and an average price target of $71.83.

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.