Cromwell Holdings LLC Has $107,000 Position in Corteva, Inc. (NYSE:CTVA)

Cromwell Holdings LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 14.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,825 shares of the company’s stock after acquiring an additional 237 shares during the period. Cromwell Holdings LLC’s holdings in Corteva were worth $107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Brookstone Capital Management bought a new stake in shares of Corteva in the 1st quarter valued at about $204,000. Wealthcare Advisory Partners LLC raised its holdings in Corteva by 20.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,435 shares of the company’s stock worth $371,000 after purchasing an additional 1,074 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Corteva in the 1st quarter worth approximately $106,000. Trust Co. of Virginia VA bought a new stake in shares of Corteva in the 1st quarter valued at $201,000. Finally, AlphaMark Advisors LLC increased its position in shares of Corteva by 124.8% during the first quarter. AlphaMark Advisors LLC now owns 5,845 shares of the company’s stock worth $337,000 after buying an additional 3,245 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

Corteva stock opened at $60.35 on Friday. The business’s 50 day simple moving average is $57.13 and its 200 day simple moving average is $55.19. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.21. The company has a market cap of $42.06 billion, a price-to-earnings ratio of 76.39, a PEG ratio of 1.66 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The firm had revenue of $6.11 billion for 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 business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. Sell-side analysts forecast that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.17 dividend. The ex-dividend date was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.13%. Corteva’s dividend payout ratio (DPR) is 86.08%.

Wall Street Analyst Weigh In

CTVA has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company cut their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Citigroup initiated coverage on shares of Corteva in a report on Wednesday. They set a “buy” rating and a $68.00 price objective on the stock. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and raised their target price for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.84.

Corteva Company 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.