Voya Investment Management LLC Sells 53,465 Shares of Corteva, Inc. $CTVA

Voya Investment Management LLC reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 17.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 256,732 shares of the company’s stock after selling 53,465 shares during the quarter. Voya Investment Management LLC’s holdings in Corteva were worth $17,363,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Gladwyn Financial Advisors Inc. bought a new position in Corteva during the second quarter worth $25,000. Total Investment Management Inc. bought a new stake in shares of Corteva during the 2nd quarter worth about $27,000. Curat Global LLC boosted its holdings in shares of Corteva by 93.7% during the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the period. Maryland Capital Advisors Inc. acquired a new position in Corteva in the 2nd quarter valued at about $29,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Corteva in the 2nd quarter valued at about $29,000. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CTVA. BNP Paribas Exane boosted their price objective on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, November 17th. Royal Bank Of Canada reduced their price target on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday. Sixteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $78.21.

Corteva Trading Up 1.1%

CTVA opened at $67.05 on Tuesday. The stock has a market capitalization of $45.31 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 1.50 and a beta of 0.74. 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, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a 50-day simple moving average of $64.63 and a 200 day simple moving average of $69.27.

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

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.