Marcum Wealth LLC Has $302,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Posted by Defense World Staff on Mar 22nd, 2023

Marcum Wealth LLC trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,136 shares of the company’s stock after selling 184 shares during the quarter. Marcum Wealth LLC’s holdings in Corteva were worth $302,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Legacy Bridge LLC increased its position in Corteva by 73.9% in the 4th quarter. Legacy Bridge LLC now owns 433 shares of the company’s stock valued at $25,000 after acquiring an additional 184 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in Corteva in the 3rd quarter valued at approximately $28,000. Kathleen S. Wright Associates Inc. acquired a new position in Corteva in the 3rd quarter valued at approximately $29,000. JFS Wealth Advisors LLC increased its position in Corteva by 60.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 568 shares of the company’s stock valued at $32,000 after acquiring an additional 214 shares during the period. Finally, Coston McIsaac & Partners acquired a new position in Corteva in the 2nd quarter valued at approximately $33,000. 79.45% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of NYSE:CTVA opened at $58.51 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $41.69 billion, a PE ratio of 37.27, a P/E/G ratio of 1.37 and a beta of 0.80. Corteva, Inc. has a twelve month low of $50.03 and a twelve month high of $68.43. The company has a 50-day moving average price of $61.65 and a two-hundred day moving average price of $62.13.

Corteva (NYSE:CTVA – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.79 billion. Corteva had a net margin of 6.57% and a return on equity of 7.54%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. Equities analysts forecast that Corteva, Inc. will post 2.89 EPS for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. Corteva’s dividend payout ratio is presently 38.22%.

Insider Activity

In other news, CEO Charles V. Magro acquired 40,000 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was bought at an average cost of $60.64 per share, for a total transaction of $2,425,600.00. Following the completion of the transaction, the chief executive officer now owns 126,095 shares of the company’s stock, valued at $7,646,400.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of analyst reports. KeyCorp reduced their price objective on shares of Corteva from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. OTR Global lowered shares of Corteva to a “positive” rating in a research note on Wednesday, March 8th. Citigroup raised their price objective on shares of Corteva from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Wells Fargo & Company dropped their price objective on shares of Corteva from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Finally, Mizuho raised their price objective on shares of Corteva from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, January 12th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $72.53.

Corteva Profile

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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