Premier Path Wealth Partners LLC Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

Premier Path Wealth Partners LLC increased its stake in Corteva, Inc. (NYSE:CTVA) by 12.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,840 shares of the company’s stock after buying an additional 837 shares during the period. Premier Path Wealth Partners LLC’s holdings in Corteva were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. &PARTNERS lifted its position in Corteva by 4.3% in the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after acquiring an additional 200 shares in the last quarter. Herr Investment Group LLC lifted its position in Corteva by 2.8% in the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after acquiring an additional 200 shares in the last quarter. Baxter Bros Inc. lifted its position in Corteva by 1.2% in the 4th quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after acquiring an additional 215 shares in the last quarter. Albion Financial Group UT lifted its position in Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Corteva by 1.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after acquiring an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CTVA shares. JPMorgan Chase & Co. lowered their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Oppenheimer raised their price target on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. Finally, Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Corteva Stock Performance

Shares of NYSE CTVA traded up $1.03 during trading on Friday, hitting $55.58. The company had a trading volume of 4,475,876 shares, compared to its average volume of 3,342,706. The stock has a 50 day simple moving average of $53.17 and a 200 day simple moving average of $54.47. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.72. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.76. The firm has a market capitalization of $38.74 billion, a P/E ratio of 70.35, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to the consensus estimate 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 last year, the company earned $1.60 earnings per share. As a group, analysts anticipate that Corteva, Inc. will post 2.73 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is 86.08%.

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.