Corteva, Inc. (NYSE:CTVA) Shares Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,738 shares of the company’s stock after purchasing an additional 1,087 shares during the quarter. Great Lakes Advisors LLC’s holdings in Corteva were worth $1,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Noble Wealth Management PBC acquired a new position in Corteva during the 4th quarter worth $26,000. Hager Investment Management Services LLC acquired a new position in Corteva during the 4th quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in Corteva during the 4th quarter worth $32,000. Centricity Wealth Management LLC acquired a new position in Corteva during the 4th quarter worth $34,000. Finally, First Financial Corp IN acquired a new position in Corteva during the 4th quarter worth $35,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 2.2 %

Shares of Corteva stock opened at $59.90 on Friday. The firm has a market capitalization of $41.06 billion, a PE ratio of 46.43, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $61.96 and its 200-day moving average is $59.69.

Corteva (NYSE:CTVA) last posted its quarterly 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%. Equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually 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. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada boosted their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Oppenheimer boosted their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays upped their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. BNP Paribas upgraded Corteva to a “hold” rating in a report on Monday, February 10th. Finally, UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price 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.