Advisors Asset Management Inc. Trims Holdings in Corteva, Inc. (NYSE:CTVA)

Advisors Asset Management Inc. trimmed its position in Corteva, Inc. (NYSE:CTVA) by 5.5% in the 4th quarter, HoldingsChannel reports. The firm owned 50,445 shares of the company’s stock after selling 2,949 shares during the quarter. Advisors Asset Management Inc.’s holdings in Corteva were worth $2,873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of CTVA. Quest Partners LLC purchased a new position in shares of Corteva in the third quarter worth about $587,000. Pathstone Holdings LLC raised its position in Corteva by 3.0% during the third quarter. Pathstone Holdings LLC now owns 98,919 shares of the company’s stock valued at $5,815,000 after acquiring an additional 2,846 shares in the last quarter. Prospera Financial Services Inc raised its position in Corteva by 3.5% during the third quarter. Prospera Financial Services Inc now owns 6,687 shares of the company’s stock valued at $393,000 after acquiring an additional 226 shares in the last quarter. First Horizon Advisors Inc. raised its position in Corteva by 41.5% during the third quarter. First Horizon Advisors Inc. now owns 3,548 shares of the company’s stock valued at $209,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in Corteva by 14.2% during the third quarter. Citizens Financial Group Inc. RI now owns 17,274 shares of the company’s stock valued at $1,016,000 after acquiring an additional 2,142 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $61.70 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business’s 50 day moving average price is $62.44 and its 200-day moving average price is $59.84. The firm has a market capitalization of $42.30 billion, a PE ratio of 47.83, a P/E/G ratio of 1.68 and a beta of 0.79. 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 results 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 return on equity of 7.19% and a net margin of 5.36%. As a group, equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTVA. Wells Fargo & Company lifted their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Corteva Company 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.