Clifford Swan Investment Counsel LLC Grows Holdings in Corteva, Inc. (NYSE:CTVA)

Clifford Swan Investment Counsel LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 453,271 shares of the company’s stock after purchasing an additional 26,839 shares during the period. Clifford Swan Investment Counsel LLC owned about 0.06% of Corteva worth $21,721,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in shares of Corteva during the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new stake in shares of Corteva during the 4th quarter valued at $27,000. NewSquare Capital LLC increased its position in shares of Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after purchasing an additional 226 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its stake in shares of Corteva by 234.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after purchasing an additional 389 shares during the period. Finally, Naples Money Management LLC purchased a new position in shares of Corteva in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA traded up $0.18 during mid-day trading on Friday, reaching $57.16. 2,977,563 shares of the stock traded hands, compared to its average volume of 2,761,026. The company has a market cap of $39.95 billion, a price-to-earnings ratio of 72.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $60.57. The firm has a fifty day moving average price of $55.37 and a 200 day moving average price of $50.65. The company has a current ratio of 1.51, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts predict that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.12%. Corteva’s payout ratio is presently 81.01%.

Wall Street Analyst Weigh In

Several brokerages have commented on CTVA. Wolfe Research initiated coverage on shares of Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective on the stock. Mizuho lifted their price target on shares of Corteva from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a report on Friday, February 2nd. UBS Group decreased their target price on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price target (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.38.

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.