Brinker Capital Investments LLC Has $1.31 Million Position in Corteva, Inc. (NYSE:CTVA)

Brinker Capital Investments LLC reduced its holdings in Corteva, Inc. (NYSE:CTVAGet Rating) by 10.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,157 shares of the company’s stock after selling 2,962 shares during the period. Brinker Capital Investments LLC’s holdings in Corteva were worth $1,308,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CTVA. Norges Bank bought a new position in Corteva in the 4th quarter worth approximately $465,952,000. First Trust Advisors LP increased its position in Corteva by 294.8% in the 1st quarter. First Trust Advisors LP now owns 5,194,288 shares of the company’s stock worth $298,568,000 after buying an additional 3,878,590 shares during the period. 1832 Asset Management L.P. bought a new position in Corteva in the 1st quarter worth approximately $152,193,000. Arrowstreet Capital Limited Partnership increased its position in Corteva by 244.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,133,182 shares of the company’s stock worth $122,615,000 after buying an additional 1,513,063 shares during the period. Finally, BlackRock Inc. increased its position in Corteva by 2.5% in the 1st quarter. BlackRock Inc. now owns 61,242,962 shares of the company’s stock worth $3,520,247,000 after buying an additional 1,483,373 shares during the period. 79.02% of the stock is owned by institutional investors.

Corteva Price Performance

Corteva stock opened at $57.15 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.35 and a current ratio of 1.88. The firm has a market cap of $41.36 billion, a P/E ratio of 24.11, a P/E/G ratio of 1.40 and a beta of 0.68. The business’s fifty day moving average is $59.97 and its two-hundred day moving average is $58.14. Corteva, Inc. has a 52 week low of $41.37 and a 52 week high of $64.30.

Corteva (NYSE:CTVAGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.17. The company had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.09 billion. Corteva had a return on equity of 7.26% and a net margin of 10.31%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.59 earnings per share for the current fiscal year.

Corteva declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 13th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, August 12th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.60 dividend on an annualized basis and a yield of 1.05%. This is a positive change from Corteva’s previous quarterly dividend of $0.14. Corteva’s payout ratio is currently 25.32%.

Insiders Place Their Bets

In other news, insider Audrey Grimm sold 10,000 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $62.79, for a total transaction of $627,900.00. Following the transaction, the insider now owns 7,511 shares of the company’s stock, valued at $471,615.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Corteva from $68.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, September 15th. Royal Bank of Canada boosted their price objective on Corteva from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, August 9th. BMO Capital Markets boosted their price objective on Corteva from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 14th. KeyCorp boosted their price objective on Corteva from $64.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, September 14th. Finally, Citigroup boosted their price objective on Corteva from $63.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, August 8th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Corteva Profile

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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.

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