NORTHSTAR ASSET MANAGEMENT Co LLC Sells 780 Shares of Corteva, Inc. (NYSE:CTVA)

NORTHSTAR ASSET MANAGEMENT Co LLC decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 10.4% in the second quarter, Holdings Channel.com reports. The fund owned 6,690 shares of the company’s stock after selling 780 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Corteva were worth $361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in Corteva during the first quarter valued at $25,000. Acadian Asset Management LLC bought a new position in Corteva during the first quarter valued at $25,000. Rise Advisors LLC lifted its position in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the last quarter. Albion Financial Group UT lifted its position in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. lifted its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

CTVA stock traded up $1.04 during trading on Friday, reaching $53.80. The company had a trading volume of 2,926,133 shares, compared to its average volume of 3,371,955. The firm has a 50-day simple moving average of $52.89 and a 200-day simple moving average of $54.37. The company has a market cap of $37.50 billion, a price-to-earnings ratio of 68.10, 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 quick ratio of 0.97 and a current ratio of 1.72. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76.

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 company 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%. Corteva’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the business earned $1.60 EPS. As a group, sell-side analysts expect that Corteva, Inc. will post 2.73 earnings per share for the current year.

Corteva Increases Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. Corteva’s dividend payout ratio (DPR) is 86.08%.

Wall Street Analyst Weigh In

CTVA has been the subject of several analyst reports. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Oppenheimer raised their price target on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group raised their price target on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Mizuho reduced their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.