Envestnet Asset Management Inc. Boosts Stake in Corteva, Inc. $CTVA

Envestnet Asset Management Inc. grew its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,018,817 shares of the company’s stock after buying an additional 42,263 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Corteva were worth $150,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. bought a new position in shares of Corteva during the 2nd quarter worth approximately $25,000. Maryland Capital Advisors Inc. bought a new position in shares of Corteva during the 2nd quarter worth approximately $29,000. Valley National Advisers Inc. lifted its position in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after buying an additional 243 shares in the last quarter. Richardson Capital Management LLC bought a new stake in Corteva in the first quarter worth about $37,000. Finally, DHJJ Financial Advisors Ltd. raised its position in Corteva by 132.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares during the period. Institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling 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 shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Corteva Trading Down 0.7%

Shares of CTVA opened at $63.48 on Wednesday. The firm has a market cap of $43.11 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.46 and a beta of 0.76. 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, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The firm has a 50 day moving average price of $68.18 and a 200-day moving average price of $69.28.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on CTVA shares. Morgan Stanley set a $84.00 price objective on shares of Corteva in a research report on Monday, September 15th. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a research note on Thursday, October 2nd. Weiss Ratings downgraded shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $75.00 to $84.00 in a research note on Wednesday, August 13th. Finally, Oppenheimer reduced their target price on shares of Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.94.

About Corteva

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.