Trust Co. of Vermont Increases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Trust Co. of Vermont boosted its stake in Corteva, Inc. (NYSE:CTVA) by 24.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,090 shares of the company’s stock after acquiring an additional 9,651 shares during the quarter. Trust Co. of Vermont’s holdings in Corteva were worth $2,886,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC lifted its stake in shares of Corteva by 39.1% in the fourth quarter. Fisher Asset Management LLC now owns 9,380 shares of the company’s stock worth $449,000 after acquiring an additional 2,635 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Corteva in the 1st quarter valued at approximately $1,965,000. Rise Advisors LLC boosted its stake in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares during the last quarter. Perpetual Ltd acquired a new stake in shares of Corteva during the first quarter worth approximately $229,000. Finally, Banque Cantonale Vaudoise increased its stake in shares of Corteva by 77.3% in the first quarter. Banque Cantonale Vaudoise now owns 7,721 shares of the company’s stock worth $445,000 after buying an additional 3,366 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and upped their price target for the company from $59.00 to $67.00 in a research report on Wednesday. KeyCorp decreased their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.21.

Corteva Price Performance

Shares of Corteva stock opened at $59.42 on Friday. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $59.68. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock has a market cap of $41.41 billion, a PE ratio of 75.22, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The company’s 50-day moving average price is $56.36 and its two-hundred day moving average price is $55.09.

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

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Corteva’s dividend payout ratio (DPR) is 86.08%.

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.