Wealthfront Advisers LLC Raises Position in Corteva, Inc. $CTVA

Wealthfront Advisers LLC raised its stake in Corteva, Inc. (NYSE:CTVA) by 26.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 112,587 shares of the company’s stock after buying an additional 23,480 shares during the quarter. Wealthfront Advisers LLC’s holdings in Corteva were worth $8,391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. purchased a new stake in shares of Corteva in the second quarter worth approximately $25,000. Maryland Capital Advisors Inc. purchased a new stake in shares of Corteva in the second quarter worth approximately $29,000. Princeton Global Asset Management LLC increased its position in shares of Corteva by 61.5% during the second quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after acquiring an additional 243 shares during the last quarter. Finally, DHJJ Financial Advisors Ltd. increased its position in shares of Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after acquiring an additional 300 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 at the SEC website. 0.15% of the stock is owned by insiders.

Corteva Stock Performance

NYSE:CTVA opened at $63.89 on Tuesday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The business has a fifty day simple moving average of $68.36 and a two-hundred day simple moving average of $69.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The company has a market capitalization of $43.39 billion, a P/E ratio of 31.16, a P/E/G ratio of 1.46 and a beta of 0.76.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS 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 during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the company earned $1.83 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on CTVA shares. Oppenheimer decreased their price target on Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target for the company in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 15th. BMO Capital Markets set a $86.00 price target on Corteva in a research report on Monday, September 15th. Finally, Wells Fargo & Company decreased their price target on Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.