3Chopt Investment Partners LLC Acquires 568 Shares of Corteva, Inc. $CTVA

3Chopt Investment Partners LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 10.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 5,857 shares of the company’s stock after purchasing an additional 568 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in Corteva were worth $437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nuveen LLC acquired a new position in shares of Corteva during the first quarter worth approximately $640,333,000. Assenagon Asset Management S.A. raised its position in shares of Corteva by 4,769.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after purchasing an additional 1,884,897 shares during the period. JPMorgan Chase & Co. raised its position in shares of Corteva by 54.6% during the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after purchasing an additional 1,769,355 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Corteva by 65.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock worth $204,615,000 after purchasing an additional 1,290,009 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Corteva by 0.8% during the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after purchasing an additional 639,799 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction 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 directly 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 document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CTVA. Wells Fargo & Company reaffirmed an “overweight” rating and set a $83.00 target price (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Citigroup cut Corteva from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $83.00 to $70.00 in a research note on Thursday, October 2nd. Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. UBS Group dropped their price objective on Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $80.13.

Corteva Trading Down 1.4%

Shares of Corteva stock opened at $61.90 on Friday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The firm has a market cap of $42.04 billion, a PE ratio of 30.20, a P/E/G ratio of 1.42 and a beta of 0.76. The stock has a fifty day moving average price of $70.38 and a 200-day moving average price of $68.91. 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 (NYSE:CTVA) last announced its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (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 firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the firm posted $1.83 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. This is a boost from Corteva’s previous quarterly dividend of $0.17. Corteva’s payout ratio is 35.12%.

About Corteva

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.