Twin Capital Management Inc. Reduces Holdings in Corteva, Inc. (NYSE:CTVA)

Twin Capital Management Inc. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 47.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,403 shares of the company’s stock after selling 9,522 shares during the quarter. Twin Capital Management Inc.’s holdings in Corteva were worth $499,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CTVA. CVA Family Office LLC purchased a new stake in Corteva in the 4th quarter valued at $25,000. BKM Wealth Management LLC purchased a new stake in Corteva in the 4th quarter valued at $27,000. NewSquare Capital LLC grew its holdings in Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after buying an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc grew its holdings in Corteva by 234.3% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after buying an additional 389 shares in the last quarter. Finally, Cornerstone Planning Group LLC purchased a new stake in Corteva in the 2nd quarter valued at $28,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Price Performance

CTVA stock opened at $54.80 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The firm has a market capitalization of $38.30 billion, a P/E ratio of 53.73, a P/E/G ratio of 1.41 and a beta of 0.77. The business’s 50-day moving average is $55.23 and its two-hundred day moving average is $50.30. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $62.10.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter last year, the company earned $0.16 EPS. Analysts anticipate that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Royal Bank of Canada increased their price target on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. KeyCorp increased their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Wolfe Research assumed coverage on Corteva in a report on Friday, March 1st. They set an “outperform” rating and a $67.00 price target for the company. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 price target (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

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.