Westover Capital Advisors LLC Purchases Shares of 16,336 Corteva, Inc. (NYSE:CTVA)

Westover Capital Advisors LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, Holdings Channel reports. The firm purchased 16,336 shares of the company’s stock, valued at approximately $930,000.

A number of other large investors have also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC boosted its stake in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC boosted its stake in Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc boosted its stake in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of Corteva 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 transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Corteva Trading Down 4.3 %

NYSE:CTVA opened at $60.28 on Tuesday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The business’s 50-day moving average price is $61.40 and its two-hundred day moving average price is $59.38. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $41.33 billion, a price-to-earnings ratio of 46.73, a PEG ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. On average, equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva declared that its board has authorized a stock buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Royal Bank of Canada boosted their price objective on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Bank of America upped their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, UBS Group cut their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $67.79.

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.