City Holding Co. Sells 1,000 Shares of Corteva, Inc. (NYSE:CTVA)

City Holding Co. cut its holdings in Corteva, Inc. (NYSE:CTVA) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,279 shares of the company’s stock after selling 1,000 shares during the period. City Holding Co.’s holdings in Corteva were worth $824,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital International Investors grew its holdings in Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after purchasing an additional 678,722 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Corteva by 19.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after acquiring an additional 2,141,428 shares in the last quarter. Northern Trust Corp lifted its position in shares of Corteva by 2.5% during the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after acquiring an additional 310,012 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Corteva by 7.2% during the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after acquiring an additional 617,030 shares in the last quarter. Finally, Harris Associates L P lifted its position in shares of Corteva by 87.1% during the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after acquiring an additional 4,194,981 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Insider Activity at Corteva

In related news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Corteva Trading Up 0.0 %

CTVA stock traded up $0.01 during trading on Friday, hitting $51.56. 1,841,168 shares of the company traded hands, compared to its average volume of 3,409,504. The firm has a market capitalization of $35.94 billion, a PE ratio of 65.27, a P/E/G ratio of 1.46 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The company has a 50-day moving average of $53.08 and a 200-day moving average of $54.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.72.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share 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 return on equity of 7.30% and a net margin of 5.31%. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 EPS. Analysts predict that Corteva, Inc. will post 2.73 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.32%. Corteva’s dividend payout ratio is currently 86.08%.

Analyst Ratings Changes

Several research firms have issued reports on CTVA. JPMorgan Chase & Co. dropped their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada increased their price objective on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. KeyCorp lowered their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Oppenheimer increased their price objective on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $62.00.

About Corteva

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.