Steigerwald Gordon & Koch Inc. Sells 559 Shares of Corteva, Inc. (NYSE:CTVA)

Steigerwald Gordon & Koch Inc. trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 0.9% in the second quarter, HoldingsChannel reports. The fund owned 64,716 shares of the company’s stock after selling 559 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in Corteva were worth $3,491,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva during the 1st quarter valued at $25,000. Acadian Asset Management LLC purchased a new stake in shares of Corteva during the 1st quarter valued at about $25,000. Rise Advisors LLC increased its holdings in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Corteva in the 4th quarter worth approximately $28,000. Finally, Scarborough Advisors LLC purchased a new stake in Corteva in the 4th quarter worth approximately $29,000. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTVA. JPMorgan Chase & Co. lowered their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. KeyCorp reduced their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Mizuho reduced their target price on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price target on shares of Corteva in a research note on Wednesday, June 12th. Finally, Wells Fargo & Company cut their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Corteva Stock Down 0.6 %

Shares of CTVA traded down $0.36 during mid-day trading on Tuesday, reaching $55.44. The company’s stock had a trading volume of 74,504 shares, compared to its average volume of 3,336,692. The business has a fifty day moving average of $53.87 and a 200 day moving average of $54.62. The company has a market cap of $38.38 billion, a price-to-earnings ratio of 70.63, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $1.60 earnings per share. As a group, analysts forecast that Corteva, Inc. will post 2.72 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is 86.08%.

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.