Private Advisor Group LLC Boosts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Private Advisor Group LLC grew its position in shares of Corteva, Inc. (NYSE:CTVA) by 7.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 30,527 shares of the company’s stock after purchasing an additional 2,045 shares during the quarter. Private Advisor Group LLC’s holdings in Corteva were worth $1,739,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Chicago Partners Investment Group LLC raised its stake in shares of Corteva by 1.2% during the 4th 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 during the period. Avidian Wealth Enterprises LLC raised its stake in shares of Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares during the period. Beacon Capital Management LLC raised its stake in shares of Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares during the period. Roble Belko & Company Inc raised its stake in shares of Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares during the period. Finally, Rovin Capital UT ADV raised its stake in shares of Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after purchasing an additional 168 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Down 0.5 %

Shares of CTVA opened at $62.65 on Thursday. The firm has a market cap of $42.95 billion, a P/E ratio of 48.57, a P/E/G ratio of 1.68 and a beta of 0.78. The stock has a 50 day simple moving average of $61.09 and a two-hundred day simple moving average of $59.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s payout ratio is currently 52.71%.

Corteva declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. Barclays boosted their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. UBS Group lowered their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva 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.