LRI Investments LLC Sells 420 Shares of Corteva, Inc. $CTVA

LRI Investments LLC decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,529 shares of the company’s stock after selling 420 shares during the period. LRI Investments LLC’s holdings in Corteva were worth $412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Corteva by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after buying an additional 639,799 shares during the last quarter. Independent Franchise Partners LLP boosted its stake in shares of Corteva by 1.8% in the 1st quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after buying an additional 288,792 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Corteva by 1.0% in the 1st quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock worth $740,041,000 after buying an additional 110,865 shares during the last quarter. Nuveen LLC purchased a new position in shares of Corteva in the 1st quarter worth $640,333,000. Finally, WCM Investment Management LLC boosted its stake in shares of Corteva by 1.4% in the 1st quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company’s stock worth $426,088,000 after buying an additional 98,770 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

NYSE CTVA opened at $61.90 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The business’s fifty day moving average is $70.38 and its 200 day moving average is $68.99. The company has a market capitalization of $42.04 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.40 and a beta of 0.76. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

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

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s payout ratio is 35.12%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTVA. Oppenheimer set a $87.00 price target on Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Morgan Stanley set a $84.00 price target on Corteva in a research note on Monday, September 15th. BMO Capital Markets set a $86.00 price target on Corteva in a research note on Monday, September 15th. Mizuho lowered their target price on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings downgraded Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $80.13.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.