Confluence Investment Management LLC Reduces Holdings in Corteva (NYSE:CTVA)

Confluence Investment Management LLC trimmed its position in shares of Corteva (NYSE:CTVA) by 73.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140,134 shares of the company’s stock after selling 379,473 shares during the quarter. Confluence Investment Management LLC’s holdings in Corteva were worth $3,293,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CTVA. RMR Wealth Builders purchased a new stake in Corteva in the 4th quarter valued at $25,000. First National Bank of South Miami purchased a new stake in Corteva in the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. grew its holdings in Corteva by 335.6% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 1,015 shares of the company’s stock valued at $30,000 after buying an additional 782 shares in the last quarter. Center for Financial Planning Inc. grew its holdings in Corteva by 63.5% in the 1st quarter. Center for Financial Planning Inc. now owns 1,102 shares of the company’s stock valued at $26,000 after buying an additional 428 shares in the last quarter. Finally, West Bancorporation Inc. purchased a new stake in Corteva in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 78.04% of the company’s stock.

CTVA traded down $0.56 during mid-day trading on Friday, hitting $25.64. 22,797 shares of the stock were exchanged, compared to its average volume of 4,873,359. The firm’s fifty day moving average is $26.44 and its two-hundred day moving average is $26.95. Corteva has a 1-year low of $20.38 and a 1-year high of $32.78. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.03. The company has a market cap of $19.51 billion and a PE ratio of -22.73.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.20. Corteva had a positive return on equity of 5.09% and a negative net margin of 5.91%. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.56 billion. The business’s revenue was up 16.5% on a year-over-year basis. As a group, research analysts anticipate that Corteva will post 1.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, May 14th. Corteva’s payout ratio is 36.36%.

Several analysts have issued reports on CTVA shares. Morgan Stanley upped their target price on Corteva from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Royal Bank of Canada upped their target price on Corteva from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Barclays decreased their price target on Corteva from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Susquehanna Bancshares raised Corteva from a “neutral” rating to a “positive” rating and decreased their price target for the company from $34.00 to $29.00 in a research note on Tuesday, March 31st. Finally, KeyCorp started coverage on Corteva in a research note on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $30.69.

Corteva Profile

Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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