Corteva, Inc. (NYSE:CTVA) Stake Cut by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 227,051 shares of the company's stock after selling 16,769 shares during the period. Nisa Investment Advisors LLC's holdings in Corteva were worth $14,288,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva in the 4th quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new stake in shares of Corteva in the 4th quarter valued at approximately $27,000. LGT Financial Advisors LLC bought a new stake in shares of Corteva in the 4th quarter valued at approximately $31,000. Valley National Advisers Inc. increased its holdings in shares of Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after acquiring an additional 243 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new stake in shares of Corteva in the 1st quarter valued at approximately $37,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CTVA shares. Wells Fargo & Company increased their target price on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, June 23rd. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a research report on Monday, March 31st. Morgan Stanley increased 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. UBS Group increased their target price on Corteva from $76.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Citigroup increased their target price on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and an average price target of $76.46.

Corteva Price Performance

CTVA stock traded down $0.47 during trading hours on Monday, hitting $73.10. 2,876,206 shares of the stock traded hands, compared to its average volume of 3,432,811. The stock has a 50-day simple moving average of $71.45 and a 200 day simple moving average of $64.70. Corteva, Inc. has a one year low of $50.30 and a one year high of $77.41. The company has a market cap of $49.87 billion, a P/E ratio of 44.57, a P/E/G ratio of 1.88 and a beta of 0.76. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

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

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio is currently 41.46%.

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.