Integris Wealth Management LLC Invests $216,000 in Corteva, Inc. (NYSE:CTVA)

by · The Markets Daily

Integris Wealth Management LLC bought a new position in Corteva, Inc. (NYSE:CTVA – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,666 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds have also recently modified their holdings of the stock. Raymond James & Associates lifted its holdings in shares of Corteva by 23.1% in the third quarter. Raymond James & Associates now owns 505,375 shares of the company’s stock worth $29,711,000 after buying an additional 94,689 shares in the last quarter. Blue Trust Inc. raised its stake in Corteva by 20.4% during the third quarter. Blue Trust Inc. now owns 12,807 shares of the company’s stock valued at $691,000 after purchasing an additional 2,174 shares in the last quarter. Riverview Trust Co raised its stake in Corteva by 9.2% during the third quarter. Riverview Trust Co now owns 4,122 shares of the company’s stock valued at $242,000 after purchasing an additional 349 shares in the last quarter. V Square Quantitative Management LLC increased its position in Corteva by 31.3% during the third quarter. V Square Quantitative Management LLC now owns 4,991 shares of the company’s stock valued at $293,000 after acquiring an additional 1,191 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Corteva by 2.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 74,390 shares of the company’s stock worth $4,373,000 after purchasing an additional 1,507 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and increased their target price for the stock from $59.00 to $67.00 in a report on Wednesday. KeyCorp dropped their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.21.

Get Our Latest Stock Analysis on Corteva

Corteva Stock Performance

NYSE:CTVA traded up $0.46 during mid-day trading on Friday, reaching $59.41. 2,604,282 shares of the stock were exchanged, compared to its average volume of 3,262,223. The company has a 50 day simple moving average of $56.36 and a 200-day simple moving average of $55.09. The stock has a market capitalization of $41.41 billion, a P/E ratio of 75.22, a P/E/G ratio of 1.66 and a beta of 0.77. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $59.68.

Corteva (NYSE:CTVA – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.60 EPS. Analysts anticipate that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.17 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

Corteva Company Profile

(Free Report)

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.

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