Brown Brothers Harriman & Co. Purchases 599 Shares of Corteva, Inc. (NYSE:CTVA)

Brown Brothers Harriman & Co. increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% during the second quarter, HoldingsChannel.com reports. The fund owned 45,479 shares of the company’s stock after acquiring an additional 599 shares during the period. Brown Brothers Harriman & Co.’s holdings in Corteva were worth $2,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new position in Corteva during the second quarter worth about $43,000. Rathbones Group PLC grew its holdings in shares of Corteva by 6.0% during the second quarter. Rathbones Group PLC now owns 6,640 shares of the company’s stock worth $358,000 after purchasing an additional 373 shares in the last quarter. Plato Investment Management Ltd increased its position in shares of Corteva by 2.4% in the second quarter. Plato Investment Management Ltd now owns 31,311 shares of the company’s stock worth $1,689,000 after purchasing an additional 742 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Corteva in the second quarter valued at approximately $319,000. Finally, Wilkins Investment Counsel Inc. lifted its position in Corteva by 1.0% during the second quarter. Wilkins Investment Counsel Inc. now owns 365,995 shares of the company’s stock valued at $19,742,000 after purchasing an additional 3,531 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

CTVA opened at $56.27 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market capitalization of $38.95 billion, a PE ratio of 71.23, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. The stock’s 50 day moving average price is $54.21 and its 200-day moving average price is $54.66. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the previous year, the firm earned $1.60 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts predict that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio is presently 86.08%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research analyst reports. Mizuho decreased their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. JPMorgan Chase & Co. lowered their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Finally, Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $61.67.

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.