Ironwood Investment Counsel LLC Has $5.58 Million Stock Position in Corteva, Inc. $CTVA

Ironwood Investment Counsel LLC raised its position in Corteva, Inc. (NYSE:CTVA) by 10.4% during the second quarter, HoldingsChannel.com reports. The firm owned 74,826 shares of the company’s stock after buying an additional 7,064 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Corteva were worth $5,577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Peak Financial Advisors LLC acquired a new position in shares of Corteva during the 2nd quarter worth $505,000. Cary Street Partners Financial LLC boosted its holdings in Corteva by 20.7% in the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares in the last quarter. PGGM Investments boosted its holdings in Corteva by 68.5% in the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after purchasing an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Corteva by 28.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after buying an additional 634,938 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC raised its holdings in Corteva by 70.3% during the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after buying an additional 67,869 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Tuesday. Weiss Ratings lowered Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. UBS Group decreased their target price on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $76.00 price target on shares of Corteva in a report on Friday. Finally, Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Fifteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.18.

Corteva Stock Performance

Shares of NYSE CTVA opened at $65.73 on Wednesday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a market cap of $44.42 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.49 and a beta of 0.81. The business’s 50 day moving average is $66.07 and its two-hundred day moving average is $69.56. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the business earned ($0.49) earnings per share. Corteva’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

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.