Cambridge Trust Co. Sells 750 Shares of Corteva, Inc. (NYSE:CTVA)

Cambridge Trust Co. cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 48.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 788 shares of the company’s stock after selling 750 shares during the period. Cambridge Trust Co.’s holdings in Corteva were worth $45,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Advisors LLC increased its holdings in Corteva by 39.1% during the first quarter. Cetera Advisors LLC now owns 34,424 shares of the company’s stock valued at $1,985,000 after buying an additional 9,675 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Corteva by 221.9% in the 1st quarter. Cetera Investment Advisers now owns 119,493 shares of the company’s stock worth $6,891,000 after purchasing an additional 82,369 shares in the last quarter. Atria Investments Inc raised its holdings in Corteva by 19.4% in the 1st quarter. Atria Investments Inc now owns 73,463 shares of the company’s stock worth $4,236,000 after purchasing an additional 11,956 shares during the period. Swedbank AB purchased a new position in Corteva during the first quarter valued at $19,300,000. Finally, Sanibel Captiva Trust Company Inc. grew its holdings in Corteva by 2.5% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 13,061 shares of the company’s stock valued at $753,000 after purchasing an additional 316 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corteva

In related news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 over the last 90 days. Insiders own 0.14% of the company’s stock.

Corteva Stock Down 2.7 %

NYSE CTVA traded down $1.42 during trading on Friday, reaching $51.58. 3,784,039 shares of the company’s stock traded hands, compared to its average volume of 2,620,352. The company’s 50 day simple moving average is $53.48 and its two-hundred day simple moving average is $53.92. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The firm has a market cap of $35.95 billion, a price-to-earnings ratio of 65.29, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the business posted $1.60 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.73 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is 81.01%.

Analyst Ratings Changes

Several research analysts have recently commented on CTVA shares. Canaccord Genuity Group raised their price objective on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. KeyCorp decreased their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada raised their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $62.60.

Corteva Company 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.