Corteva, Inc. $CTVA Stock Holdings Lessened by Huntington National Bank

Huntington National Bank trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 327,165 shares of the company’s stock after selling 2,318 shares during the quarter. Huntington National Bank’s holdings in Corteva were worth $24,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in CTVA. Gladwyn Financial Advisors Inc. purchased a new stake in shares of Corteva in the second quarter worth approximately $25,000. Curat Global LLC increased its holdings in Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new position in Corteva in the second quarter worth approximately $29,000. DHJJ Financial Advisors Ltd. increased its holdings 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 buying an additional 300 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its holdings in Corteva by 61.5% in the second quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after buying an additional 200 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $75.00 to $84.00 in a report on Wednesday, August 13th. KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Wall Street Zen downgraded Corteva from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Royal Bank Of Canada dropped their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.65.

Corteva Trading Up 0.8%

Shares of CTVA stock opened at $61.93 on Tuesday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. 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’s 50 day moving average is $67.29 and its two-hundred day moving average is $69.42. The company has a market cap of $42.06 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating 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 company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the company 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.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is 35.12%.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the 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 transaction, the executive vice president 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 at the SEC website. 0.15% of the stock is currently owned by company 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.