Lorne Steinberg Wealth Management Inc. Reduces Stock Position in Corteva, Inc. (NYSE:CTVA)

Lorne Steinberg Wealth Management Inc. reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,500 shares of the company’s stock after selling 1,250 shares during the quarter. Corteva makes up 1.8% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 29th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Corteva were worth $5,343,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. CWM LLC raised its holdings in Corteva by 2.0% in the third quarter. CWM LLC now owns 25,800 shares of the company’s stock valued at $1,320,000 after acquiring an additional 507 shares in the last quarter. AE Wealth Management LLC increased its position in Corteva by 12.1% in the third quarter. AE Wealth Management LLC now owns 23,481 shares of the company’s stock worth $1,201,000 after buying an additional 2,534 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in shares of Corteva by 12.1% during the third quarter. Wealthcare Advisory Partners LLC now owns 5,119 shares of the company’s stock valued at $262,000 after acquiring an additional 552 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of Corteva by 23.4% in the 3rd quarter. Arkadios Wealth Advisors now owns 9,680 shares of the company’s stock worth $495,000 after acquiring an additional 1,835 shares during the period. Finally, HB Wealth Management LLC boosted its stake in Corteva by 16.5% during the 3rd quarter. HB Wealth Management LLC now owns 8,566 shares of the company’s stock valued at $438,000 after purchasing an additional 1,214 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTVA has been the topic of several analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 price target (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target for the company in a research note on Friday, February 2nd. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Mizuho dropped their price target on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Finally, Royal Bank of Canada lifted their price objective on shares of Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Stock Performance

Shares of Corteva stock traded down $0.65 during trading on Wednesday, reaching $54.53. The company’s stock had a trading volume of 562,269 shares, compared to its average volume of 3,542,778. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva, Inc. has a one year low of $43.22 and a one year high of $61.87. The business’s fifty day moving average price is $55.26 and its 200-day moving average price is $50.37. The firm has a market cap of $38.11 billion, a price-to-earnings ratio of 54.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities research analysts predict that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s payout ratio is 62.75%.

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.