Amalgamated Bank Increases Stock Position in Corteva, Inc. $CTVA

Amalgamated Bank raised its holdings in Corteva, Inc. (NYSE:CTVA) by 4.9% during the second quarter, Holdings Channel.com reports. The firm owned 141,394 shares of the company’s stock after purchasing an additional 6,664 shares during the quarter. Amalgamated Bank’s holdings in Corteva were worth $10,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Gladwyn Financial Advisors Inc. purchased a new stake in Corteva in the 2nd quarter valued at approximately $25,000. Curat Global LLC boosted its holdings in Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares in the last quarter. Maryland Capital Advisors Inc. purchased a new stake in Corteva in the 2nd quarter valued at approximately $29,000. Princeton Global Asset Management LLC boosted its holdings in Corteva by 61.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. boosted its holdings in Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 2.5%

Shares of Corteva stock opened at $61.62 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a market capitalization of $41.84 billion, a P/E ratio of 30.06, a P/E/G ratio of 1.44 and a beta of 0.76. The business has a 50 day moving average price of $67.76 and a 200 day moving average price of $69.25.

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

Insider Activity

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 49,262 shares in the company, 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 at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of analyst reports. Oppenheimer lowered their price objective on Corteva from $87.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 15th. UBS Group reduced their price target on shares of Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Zacks Research upgraded shares of Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.69.

Corteva 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.