Elo Mutual Pension Insurance Co Sells 7,675 Shares of Corteva, Inc. (NYSE:CTVA)

Elo Mutual Pension Insurance Co decreased its stake in Corteva, Inc. (NYSE:CTVA) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,226 shares of the company’s stock after selling 7,675 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Corteva were worth $3,715,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CTVA. WINTON GROUP Ltd purchased a new stake in shares of Corteva during the fourth quarter valued at approximately $5,740,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Corteva by 7.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,101,692 shares of the company’s stock valued at $61,629,000 after purchasing an additional 77,189 shares during the period. Korea Investment CORP boosted its holdings in shares of Corteva by 20.8% during the 4th quarter. Korea Investment CORP now owns 610,748 shares of the company’s stock valued at $34,788,000 after buying an additional 104,992 shares in the last quarter. Ausdal Financial Partners Inc. purchased a new stake in Corteva in the fourth quarter worth about $269,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Corteva by 0.6% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 333,616 shares of the company’s stock worth $19,003,000 after buying an additional 1,828 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Activity at Corteva

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 value of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Corteva Trading Down 2.2 %

Shares of CTVA stock opened at $61.08 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 company has a 50-day moving average of $62.53 and a two-hundred day moving average of $60.07. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The firm has a market cap of $41.72 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last announced 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%. On average, analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. Corteva’s payout ratio is currently 52.71%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTVA. Wells Fargo & Company raised their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. The Goldman Sachs Group initiated coverage on Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. 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 report on Tuesday, February 11th. KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Citigroup increased their target price on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.00.

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.