TCI Wealth Advisors Inc. Buys New Stake in Corteva, Inc. (NYSE:CTVA)

TCI Wealth Advisors Inc. purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,486 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors also recently made changes to their positions in CTVA. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva in the first quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new position in Corteva in the 1st quarter valued at $25,000. Albion Financial Group UT lifted its stake in shares of Corteva by 77.2% during the 1st 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. Capital Advisors Ltd. LLC boosted its holdings in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. Finally, Cultivar Capital Inc. purchased a new stake in shares of Corteva in the second quarter valued at $34,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Up 1.3 %

NYSE CTVA opened at $61.13 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $61.25. The business has a 50 day moving average price of $57.27 and a two-hundred day moving average price of $55.19. The stock has a market cap of $42.61 billion, a PE ratio of 77.38, a P/E/G ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced 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. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CTVA has been the topic of several recent analyst reports. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lowered their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company cut their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.84.

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.