Carret Asset Management LLC Has $275,000 Stake in Corteva, Inc. $CTVA

Carret Asset Management LLC decreased its position in Corteva, Inc. (NYSE:CTVA) by 16.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,688 shares of the company’s stock after selling 750 shares during the quarter. Carret Asset Management LLC’s holdings in Corteva were worth $275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. acquired a new stake in shares of Corteva in the 2nd quarter valued at about $25,000. Curat Global LLC raised its stake in shares of 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 during the period. Maryland Capital Advisors Inc. acquired a new stake in shares of Corteva in the 2nd quarter valued at about $29,000. DHJJ Financial Advisors Ltd. raised its stake in shares of 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 during the period. Finally, Princeton Global Asset Management LLC raised its stake in shares of 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 during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Activity

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 stock was 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 in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CTVA has been the subject of several analyst reports. Mizuho decreased their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Morgan Stanley set a $84.00 price objective on Corteva in a report on Monday, September 15th. Jefferies Financial Group decreased their price objective on Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a report on Thursday, October 2nd. Finally, Argus decreased their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 13th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.69.

Corteva Trading Down 2.5%

Corteva stock 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 company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The stock has a market capitalization of $41.84 billion, a P/E ratio of 30.06, a PEG ratio of 1.44 and a beta of 0.76. The stock has a 50-day simple moving average of $67.76 and a 200 day simple moving average of $69.25.

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 business had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter last year, the company posted $1.83 earnings per share. Corteva’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

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.