Intech Investment Management LLC Increases Stock Position in Corteva, Inc. (NYSE:CTVA)

Intech Investment Management LLC lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 254.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 28,832 shares of the company’s stock after buying an additional 20,699 shares during the period. Intech Investment Management LLC’s holdings in Corteva were worth $1,642,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in Corteva in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva in the 4th quarter valued at approximately $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva in the 4th quarter valued at approximately $32,000. Finally, Centricity Wealth Management LLC purchased a new stake in Corteva in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.2 %

NYSE:CTVA opened at $61.70 on Friday. The business’s 50-day moving average is $62.44 and its two-hundred day moving average is $59.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm has a market capitalization of $42.30 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

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

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. Corteva’s dividend payout ratio is presently 52.71%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CTVA. Barclays upped their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. BNP Paribas upgraded Corteva to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. UBS Group cut their price target on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Citigroup boosted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.