DHJJ Financial Advisors Ltd. Grows Holdings in Corteva, Inc. $CTVA

DHJJ Financial Advisors Ltd. increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 132.2% during the 2nd quarter, Holdings Channel reports. The firm owned 527 shares of the company’s stock after purchasing an additional 300 shares during the quarter. DHJJ Financial Advisors Ltd.’s holdings in Corteva were worth $39,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Peak Financial Advisors LLC bought a new stake in Corteva in the second quarter worth about $505,000. Cary Street Partners Financial LLC raised its position in Corteva by 20.7% in the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after acquiring an additional 15,448 shares during the period. PGGM Investments raised its position in Corteva by 68.5% in the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after acquiring an additional 497,200 shares during the period. Goldman Sachs Group Inc. raised its position in Corteva by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after acquiring an additional 634,938 shares during the period. Finally, S.E.E.D. Planning Group LLC raised its position in Corteva by 70.3% in the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after acquiring an additional 67,869 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Corteva stock opened at $63.36 on Friday. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $43.03 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76. The firm’s 50 day simple moving average is $71.24 and its 200 day simple moving average is $68.85.

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

Corteva Increases Dividend

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

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the 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 sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on CTVA shares. Jefferies Financial Group lowered their price objective on shares of Corteva from $92.00 to $85.00 in a research report on Thursday. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Citigroup lowered shares of Corteva from a “buy” rating to a “neutral” rating and lowered their price target for the company from $83.00 to $70.00 in a research report on Thursday. Finally, Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Corteva 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.