Neville Rodie & Shaw Inc. Decreases Stake in Corteva, Inc. $CTVA

Neville Rodie & Shaw Inc. reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,200 shares of the company’s stock after selling 485 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Corteva were worth $313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new stake in Corteva during the fourth quarter worth about $27,000. Valley National Advisers Inc. increased its position in Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after purchasing an additional 243 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in Corteva during the first quarter worth about $37,000. von Borstel & Associates Inc. acquired a new stake in Corteva during the first quarter worth about $44,000. Finally, Horizon Financial Services LLC increased its position in Corteva by 4,444.4% during the first quarter. Horizon Financial Services LLC now owns 818 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CTVA. Oppenheimer set a $87.00 price target on shares of Corteva and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Citigroup cut shares of Corteva from a “neutral” rating to a “mixed” rating in a research report on Friday, September 5th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a research report on Monday, August 11th. Finally, Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $80.25.

Corteva Stock Up 2.8%

Shares of Corteva stock opened at $75.07 on Friday. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The company has a 50 day moving average of $73.03 and a 200 day moving average of $68.15. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $50.98 billion, a P/E ratio of 36.62, a P/E/G ratio of 1.67 and a beta of 0.78.

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, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.18 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. Corteva’s payout ratio is presently 35.12%.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.