Cambiar Investors LLC Reduces Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Cambiar Investors LLC cut its holdings in Corteva, Inc. (NYSE:CTVA) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 702,481 shares of the company’s stock after selling 6,525 shares during the quarter. Corteva comprises 1.6% of Cambiar Investors LLC’s holdings, making the stock its 29th largest position. Cambiar Investors LLC’s holdings in Corteva were worth $41,299,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after buying an additional 678,722 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Corteva by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after purchasing an additional 1,514,954 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Corteva by 0.9% in the second quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock valued at $363,662,000 after purchasing an additional 61,127 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Corteva by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock worth $250,786,000 after purchasing an additional 224,423 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Corteva by 392.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after purchasing an additional 3,254,126 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Corteva stock opened at $60.86 on Friday. The stock has a market capitalization of $42.13 billion, a P/E ratio of 46.82, a P/E/G ratio of 1.77 and a beta of 0.77. The company’s fifty day moving average price is $57.79 and its 200 day moving average price is $55.37. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $62.38.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.60 earnings per share. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. Corteva’s dividend payout ratio (DPR) is presently 52.31%.

Analyst Ratings Changes

Several brokerages recently weighed in on CTVA. Citigroup started coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target on the stock. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lowered their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.84.

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.