State of New Jersey Common Pension Fund D Has $17.09 Million Stake in Corteva, Inc. $CTVA

State of New Jersey Common Pension Fund D trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,294 shares of the company’s stock after selling 2,101 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Corteva were worth $17,089,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Gladwyn Financial Advisors Inc. acquired a new position in Corteva during the second quarter worth $25,000. Maryland Capital Advisors Inc. acquired a new position in Corteva during the second quarter worth $29,000. Valley National Advisers Inc. increased its holdings 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 buying an additional 243 shares during the last quarter. Richardson Capital Management LLC acquired a new position in Corteva during the first quarter worth $37,000. Finally, DHJJ Financial Advisors Ltd. increased its holdings in shares of Corteva by 132.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the sale, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Corteva Stock Up 0.2%

Shares of NYSE CTVA opened at $63.63 on Friday. The stock has a market capitalization of $43.21 billion, a P/E ratio of 31.04, a PEG ratio of 1.46 and a beta of 0.76. The stock’s fifty day moving average is $68.53 and its 200 day moving average is $69.13. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share 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 during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the prior year, the business posted $1.83 earnings per share. Corteva’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is currently 35.12%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of research reports. Argus cut their target price on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Zacks Research upgraded shares of Corteva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Wells Fargo & Company cut their target price on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. BMO Capital Markets set a $86.00 target price on shares of Corteva in a research note on Monday, September 15th. Finally, KeyCorp restated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.94.

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.