Congress Wealth Management LLC DE Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

Congress Wealth Management LLC DE decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 1.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,521 shares of the company’s stock after selling 1,056 shares during the period. Congress Wealth Management LLC DE’s holdings in Corteva were worth $4,413,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. CVA Family Office LLC bought a new position in shares of Corteva in the fourth quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of Corteva in the fourth quarter valued at about $27,000. Rise Advisors LLC raised its stake in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Corteva during the fourth quarter worth about $28,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Corteva in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 1.6 %

Shares of NYSE CTVA traded down $0.88 during midday trading on Monday, hitting $53.06. The stock had a trading volume of 2,549,801 shares, compared to its average volume of 3,581,998. The business’s 50 day moving average is $54.77 and its 200-day moving average is $52.83. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The company has a market cap of $36.98 billion, a P/E ratio of 67.16, a PEG ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $1.16 EPS. As a group, analysts predict that Corteva, Inc. will post 2.8 EPS for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Analysts Set New Price Targets

CTVA has been the subject of several research analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. Royal Bank of Canada lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Oppenheimer increased their price target on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, OTR Global reaffirmed a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Insider Activity

In related news, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the sale, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock valued at $4,795,016 in the last 90 days. 0.20% of the stock is currently owned by insiders.

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.