Rovin Capital UT ADV Sells 2,980 Shares of Corteva, Inc. (NYSE:CTVA)

Rovin Capital UT ADV trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 23.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,842 shares of the company’s stock after selling 2,980 shares during the period. Rovin Capital UT ADV’s holdings in Corteva were worth $561,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its stake in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the last quarter. First Financial Corp IN acquired a new position in Corteva during the fourth quarter worth about $35,000. Bangor Savings Bank lifted its holdings in shares of Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after acquiring an additional 241 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Corteva in the 3rd quarter valued at approximately $56,000. Finally, Pinnacle Bancorp Inc. grew its holdings in shares of Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after purchasing an additional 199 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Royal Bank of Canada raised their price objective on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. UBS Group lowered their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. KeyCorp cut their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.47.

Corteva Price Performance

Shares of NYSE CTVA opened at $60.92 on Thursday. The company has a market capitalization of $41.87 billion, a PE ratio of 61.54, a P/E/G ratio of 1.49 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a twelve month low of $44.01 and a twelve month high of $64.20. The firm has a fifty day simple moving average of $58.83 and a 200 day simple moving average of $56.93.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Corteva announced that its board has approved a stock repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.