Venturi Wealth Management LLC Has $383,000 Stake in Corteva, Inc. (NYSE:CTVA)

Venturi Wealth Management LLC reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,731 shares of the company’s stock after selling 1,590 shares during the quarter. Venturi Wealth Management LLC’s holdings in Corteva were worth $383,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CTVA. State Street Corp raised its position in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after buying an additional 355,206 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after buying an additional 856,007 shares in the last quarter. Harris Associates L P raised its holdings in shares of Corteva by 1.4% in the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after buying an additional 200,917 shares during the last quarter. Finally, FMR LLC lifted its position in Corteva by 1.9% during the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after buying an additional 203,126 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CTVA shares. Royal Bank of Canada raised their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

Corteva Price Performance

Corteva stock opened at $63.77 on Friday. The firm has a market capitalization of $43.72 billion, a P/E ratio of 49.44, a PEG ratio of 1.70 and a beta of 0.78. The business has a 50-day moving average of $60.74 and a 200-day moving average of $58.74. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva declared that its board has initiated a share repurchase plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Corteva Profile

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.