BLB&B Advisors LLC Decreases Stock Holdings in Corteva, Inc. $CTVA

BLB&B Advisors LLC reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 13.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,758 shares of the company’s stock after selling 769 shares during the quarter. BLB&B Advisors LLC’s holdings in Corteva were worth $355,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Gladwyn Financial Advisors Inc. purchased a new stake in shares of Corteva during the 2nd quarter worth $25,000. Curat Global LLC lifted its stake in shares of Corteva by 93.7% during the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. purchased a new stake in shares of Corteva during the 2nd quarter worth $29,000. Princeton Global Asset Management LLC lifted its stake in shares of Corteva by 61.5% during the 2nd 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. Finally, DHJJ Financial Advisors Ltd. lifted its stake in shares of Corteva by 132.2% during the 2nd 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. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Down 2.5%

Shares of NYSE:CTVA opened at $61.62 on Friday. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The stock has a market cap of $41.84 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.44 and a beta of 0.76. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. 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 announced 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 analysts’ expectations of $6.26 billion. During the same period last year, the business posted $1.83 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their price target on Corteva from $92.00 to $85.00 in a research note 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 note on Monday, September 15th. Royal Bank Of Canada dropped their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Wall Street Zen downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings downgraded shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. One investment 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’s stock. According to MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average price target of $79.69.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

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.