Corteva, Inc. $CTVA Holdings Decreased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lessened its stake in Corteva, Inc. (NYSE:CTVA) by 5.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,671 shares of the company’s stock after selling 9,004 shares during the period. Westwood Holdings Group Inc.’s holdings in Corteva were worth $10,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Corteva by 0.8% in the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock valued at $5,022,736,000 after acquiring an additional 639,799 shares in the last quarter. Geode Capital Management LLC lifted its position in Corteva by 1.4% in the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock worth $1,339,651,000 after purchasing an additional 251,693 shares during the period. Independent Franchise Partners LLP increased its position in shares of Corteva by 1.8% during the 1st quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock valued at $1,056,299,000 after purchasing an additional 288,792 shares during the period. Northern Trust Corp raised its stake in shares of Corteva by 1.0% in the 1st quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock worth $740,041,000 after buying an additional 110,865 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Corteva in the first quarter valued at $640,333,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Argus lowered their target price on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $75.00 to $84.00 in a research note on Wednesday, August 13th. Jefferies Financial Group reduced their target price on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Wells Fargo & Company decreased their price target on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Finally, Rothschild & Co Redburn cut their price objective on Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.39.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction on Friday, August 29th. The shares were 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 of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Corteva Price Performance

CTVA opened at $65.98 on Friday. The firm has a market capitalization of $44.58 billion, a P/E ratio of 28.20, a PEG ratio of 1.50 and a beta of 0.81. The stock has a fifty day moving average of $65.70 and a 200-day moving average of $69.60. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the business earned ($0.49) EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio is currently 30.77%.

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.