Cardinal Capital Management Has $1.52 Million Stake in Corteva, Inc. (NYSE:CTVA)

Cardinal Capital Management increased its holdings in Corteva, Inc. (NYSE:CTVA) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,904 shares of the company’s stock after purchasing an additional 235 shares during the period. Cardinal Capital Management’s holdings in Corteva were worth $1,523,000 at the end of the most recent quarter.

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

Corteva Stock Performance

Shares of Corteva stock opened at $59.42 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market cap of $41.41 billion, a price-to-earnings ratio of 75.22, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The stock’s 50-day moving average is $56.36 and its 200-day moving average is $55.09. Corteva, Inc. has a one year low of $43.22 and a one year high of $59.68.

Corteva (NYSE:CTVA) last released 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 firm had revenue of $6.11 billion for 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%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. Equities analysts predict that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is 86.08%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. KeyCorp cut their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price target 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. Wells Fargo & Company decreased their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $62.21.

Corteva Company 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.