Securian Asset Management Inc. Sells 673 Shares of Corteva, Inc. $CTVA

Securian Asset Management Inc. lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,608 shares of the company’s stock after selling 673 shares during the period. Securian Asset Management Inc.’s holdings in Corteva were worth $2,654,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Gladwyn Financial Advisors Inc. bought a new stake in Corteva during the second quarter worth about $25,000. Maryland Capital Advisors Inc. bought a new stake in Corteva during the second quarter worth about $29,000. Princeton Global Asset Management LLC lifted its stake in Corteva by 61.5% during the second quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Valley National Advisers Inc. lifted its stake 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. Finally, DHJJ Financial Advisors Ltd. lifted its stake in Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.1%

CTVA stock opened at $61.93 on Wednesday. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The business’s 50 day moving average price is $69.04 and its two-hundred day moving average price is $68.97. 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 company has a market capitalization of $42.05 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76.

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

Corteva Increases Dividend

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

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was 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 of the company’s stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on CTVA shares. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Zacks Research upgraded Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. UBS Group decreased their price objective on Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Finally, Wells Fargo & Company decreased their price objective on Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $80.31.

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.