CENTRAL TRUST Co Sells 3,248 Shares of Corteva, Inc. $CTVA

CENTRAL TRUST Co reduced its position in Corteva, Inc. (NYSE:CTVA) by 11.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,060 shares of the company’s stock after selling 3,248 shares during the quarter. CENTRAL TRUST Co’s holdings in Corteva were worth $1,793,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nwam LLC boosted its stake in Corteva by 8.7% in the second quarter. Nwam LLC now owns 4,753 shares of the company’s stock worth $349,000 after buying an additional 379 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Corteva in the 2nd quarter worth approximately $669,000. Allworth Financial LP boosted its stake in shares of Corteva by 14.4% in the 2nd quarter. Allworth Financial LP now owns 17,523 shares of the company’s stock valued at $1,306,000 after purchasing an additional 2,210 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Corteva by 14.1% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 201,243 shares of the company’s stock valued at $14,999,000 after purchasing an additional 24,927 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Corteva by 3.1% in the 2nd quarter. ProShare Advisors LLC now owns 132,074 shares of the company’s stock worth $9,843,000 after purchasing an additional 4,023 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value 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 approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Corteva Trading Up 0.3%

CTVA opened at $65.73 on Wednesday. The business has a 50 day simple moving average of $66.07 and a two-hundred day simple moving average of $69.56. The firm has a market capitalization of $44.42 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.49 and a beta of 0.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned ($0.49) EPS. Analysts predict that Corteva, Inc. will post 2.96 EPS for the current 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 given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s payout ratio is presently 30.77%.

Analyst Ratings Changes

CTVA has been the subject of several analyst reports. UBS Group cut their price target on shares of Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft dropped their target price on Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, November 6th. KeyCorp restated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. 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 research report on Thursday, October 2nd. Finally, Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Fifteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.18.

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.