Colonial Trust Co SC Decreases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Colonial Trust Co SC lowered its position in Corteva, Inc. (NYSE:CTVA) by 36.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,347 shares of the company’s stock after selling 1,352 shares during the period. Colonial Trust Co SC’s holdings in Corteva were worth $134,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its holdings in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC grew its stake in Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after buying an additional 157 shares during the last quarter. Beacon Capital Management LLC increased its position in Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after buying an additional 158 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after buying an additional 160 shares during the last quarter. Finally, Roble Belko & Company Inc boosted its holdings in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 6.9 %

Shares of Corteva stock opened at $66.77 on Friday. The firm has a 50-day simple moving average of $60.71 and a two-hundred day simple moving average of $60.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $67.25. The company has a market cap of $45.60 billion, a P/E ratio of 51.76, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. Corteva’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s payout ratio is 41.46%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several research analyst reports. KeyCorp increased their price objective on shares of Corteva from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. UBS Group lifted their price objective on shares of Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays upped their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Monday, March 31st. Finally, Bank of America increased their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $68.64.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.

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.