Thurston Springer Miller Herd & Titak Inc. Purchases Shares of 1,224 Corteva, Inc. (NYSE:CTVA)

Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,224 shares of the company’s stock, valued at approximately $66,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva during the 1st quarter worth approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of Corteva in the 1st quarter valued at about $25,000. Rise Advisors LLC lifted its stake in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the last quarter. Albion Financial Group UT grew its holdings in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. increased its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CTVA shares. OTR Global reiterated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Royal Bank of Canada lifted their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Canaccord Genuity Group increased their price objective on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. cut their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, BMO Capital Markets upped their price target on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.00.

Insider Activity

In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the sale, the senior vice president now owns 126,628 shares in the company, valued at approximately $7,269,713.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Corteva Price Performance

CTVA stock traded up $0.97 during midday trading on Wednesday, reaching $52.15. The company had a trading volume of 238,818 shares, compared to its average volume of 3,409,430. The company has a market capitalization of $36.35 billion, a price-to-earnings ratio of 64.81, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 0.97. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The stock has a 50 day moving average price of $53.31 and a 200-day moving average price of $54.07.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. The company 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 business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 EPS. Equities research analysts expect that Corteva, Inc. will post 2.73 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

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.