Cullinan Associates Inc. Decreases Position in Corteva, Inc. (NYSE:CTVA)

Cullinan Associates Inc. trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 28.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,759 shares of the company’s stock after selling 7,110 shares during the period. Cullinan Associates Inc.’s holdings in Corteva were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Brookstone Capital Management purchased a new position in shares of Corteva during the 1st quarter valued at approximately $204,000. Wealthcare Advisory Partners LLC lifted its position 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 acquiring 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 valued at $106,000. Silverleafe Capital Partners LLC bought a new position in Corteva during the first quarter worth about $1,244,000. Finally, S.E.E.D. Planning Group LLC lifted its position in shares of Corteva by 14.6% during the 1st quarter. S.E.E.D. Planning Group LLC now owns 50,167 shares of the company’s stock worth $2,893,000 after buying an additional 6,392 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA traded down $0.22 during trading hours on Friday, reaching $60.56. 76,271 shares of the company were exchanged, compared to its average volume of 3,241,054. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $42.21 billion, a P/E ratio of 76.95, a P/E/G ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $61.20. The business’s 50 day simple moving average is $56.84 and its 200-day simple moving average is $55.13.

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. On average, equities research analysts expect that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of recent analyst reports. Citigroup assumed coverage on Corteva in a report on Wednesday. They set a “buy” rating and a $68.00 price target for the company. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. KeyCorp dropped their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company dropped their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.84.

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.