Greenwich Wealth Management LLC Trims Stake in Corteva, Inc. (NYSE:CTVA)

Greenwich Wealth Management LLC reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 23.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,025 shares of the company’s stock after selling 9,918 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Corteva were worth $1,535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Corteva by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after acquiring an additional 1,941,323 shares during the period. Geode Capital Management LLC increased its holdings in shares of Corteva by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 14,726,824 shares of the company’s stock valued at $886,490,000 after acquiring an additional 208,948 shares during the period. Northern Trust Corp increased its holdings in shares of Corteva by 2.7% in the 3rd quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock valued at $639,796,000 after acquiring an additional 327,321 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Corteva by 29.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after acquiring an additional 2,545,570 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Corteva by 8.6% in the 4th quarter. Morgan Stanley now owns 9,452,940 shares of the company’s stock valued at $555,644,000 after acquiring an additional 746,972 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA stock traded up $0.84 on Friday, hitting $54.80. The company had a trading volume of 2,052,668 shares, compared to its average volume of 2,638,496. The firm has a market cap of $38.30 billion, a P/E ratio of 53.73, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The company has a 50-day moving average price of $55.23 and a 200-day moving average price of $50.30. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $62.10.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the previous year, the business earned $0.16 EPS. As a group, equities research analysts predict that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.17%. Corteva’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CTVA. Barclays raised their price objective on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. UBS Group lowered their price objective on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Wolfe Research began coverage on Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective for the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. Finally, KeyCorp raised their price objective on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.29.

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.