Truist Financial Corp Decreases Stock Holdings in Corteva, Inc. $CTVA

Truist Financial Corp decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 302,059 shares of the company’s stock after selling 19,854 shares during the quarter. Truist Financial Corp’s holdings in Corteva were worth $20,247,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management raised its stake in Corteva by 118.3% during the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in Corteva during the third quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in Corteva during the third quarter valued at $29,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of Corteva by 90.6% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 448 shares of the company’s stock valued at $30,000 after acquiring an additional 213 shares during the period. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Corteva in the third quarter valued at $33,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Corteva from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Jefferies Financial Group upped their price target on shares of Corteva from $85.00 to $95.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Royal Bank Of Canada upped their price target on shares of Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Corteva from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, Wall Street Zen downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.38.

Insider Buying and Selling

In related news, insider Brian Titus sold 8,311 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $76.55, for a total value of $636,207.05. Following the transaction, the insider owned 8,090 shares of the company’s stock, valued at $619,289.50. This trade represents a 50.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

Corteva Trading Down 2.3%

CTVA stock opened at $81.99 on Thursday. The company has a market capitalization of $55.04 billion, a PE ratio of 48.23, a P/E/G ratio of 2.88 and a beta of 0.59. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $85.63. The firm’s 50-day moving average is $80.66 and its 200 day moving average is $72.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.96.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.18 by $0.32. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.88%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, research analysts anticipate that Corteva, Inc. will post 3.62 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Corteva’s dividend payout ratio (DPR) is currently 45.57%.

Corteva Profile

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.