Edgemoor Investment Advisors Inc. Cuts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Edgemoor Investment Advisors Inc. cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,201 shares of the company’s stock after selling 4,201 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Corteva were worth $1,783,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. CVA Family Office LLC purchased a new position in Corteva during the fourth quarter valued at $25,000. BKM Wealth Management LLC purchased a new position in Corteva in the 4th quarter valued at about $27,000. NewSquare Capital LLC increased its stake in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after buying an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its holdings in shares of Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after acquiring an additional 389 shares during the last quarter. Finally, Naples Money Management LLC purchased a new position in shares of Corteva in the fourth quarter valued at approximately $31,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corteva

In related news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.6 %

Shares of CTVA traded down $0.35 during mid-day trading on Friday, hitting $57.48. 3,754,489 shares of the company’s stock were exchanged, compared to its average volume of 3,166,530. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.81. The company has a market cap of $40.06 billion, a price-to-earnings ratio of 72.76, a P/E/G ratio of 1.52 and a beta of 0.78. The stock’s 50-day moving average is $55.66 and its 200-day moving average is $50.91.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.82 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Tuesday, June 4th. Corteva’s payout ratio is currently 81.01%.

Analyst Ratings Changes

Several research analysts recently commented on CTVA shares. Canaccord Genuity Group increased their price objective on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Wolfe Research assumed coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, May 6th. Royal Bank of Canada boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.24.

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.