Corteva, Inc. $CTVA Position Increased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its stake in Corteva, Inc. (NYSE:CTVA) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 233,870 shares of the company’s stock after purchasing an additional 6,819 shares during the period. Nisa Investment Advisors LLC’s holdings in Corteva were worth $17,430,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Wealthfront Advisers LLC lifted its holdings in shares of Corteva by 26.4% in the 2nd quarter. Wealthfront Advisers LLC now owns 112,587 shares of the company’s stock worth $8,391,000 after purchasing an additional 23,480 shares during the last quarter. Whipplewood Advisors LLC lifted its holdings in shares of Corteva by 15.2% in the 2nd quarter. Whipplewood Advisors LLC now owns 2,262 shares of the company’s stock worth $169,000 after purchasing an additional 298 shares during the last quarter. MQS Management LLC lifted its holdings in shares of Corteva by 118.7% in the 2nd quarter. MQS Management LLC now owns 9,883 shares of the company’s stock worth $737,000 after purchasing an additional 5,364 shares during the last quarter. CVA Family Office LLC lifted its holdings in shares of Corteva by 27.3% in the 2nd quarter. CVA Family Office LLC now owns 1,049 shares of the company’s stock worth $78,000 after purchasing an additional 225 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of Corteva by 80.6% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 9,047 shares of the company’s stock worth $674,000 after purchasing an additional 4,038 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley set a $84.00 price target on Corteva in a report on Monday, September 15th. Wall Street Zen cut Corteva from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Wells Fargo & Company lowered their target price on Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Zacks Research upgraded Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Oppenheimer lowered their target price on Corteva from $87.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $79.94.

Corteva Stock Up 0.2%

Shares of CTVA stock opened at $63.63 on Monday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The stock has a market cap of $43.21 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.76. The business’s fifty day moving average is $68.53 and its 200-day moving average is $69.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same period last year, the firm earned $1.83 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. Corteva’s payout ratio is 35.12%.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

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.