Independent Advisor Alliance Has $587,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Independent Advisor Alliance lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 31.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,307 shares of the company’s stock after purchasing an additional 2,445 shares during the period. Independent Advisor Alliance’s holdings in Corteva were worth $587,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Noble Wealth Management PBC acquired a new position in shares of Corteva during the fourth quarter worth $26,000. Hager Investment Management Services LLC bought a new position in Corteva during the fourth quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in Corteva in the fourth quarter valued at $32,000. Centricity Wealth Management LLC acquired a new stake in Corteva during the 4th quarter worth about $34,000. Finally, First Financial Corp IN bought a new position in shares of Corteva in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $59.90 on Monday. The company has a market cap 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 52 week low of $50.01 and a 52 week high of $66.24. The business has a 50 day moving average price of $61.96 and a 200-day moving average price of $59.71. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 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%. Equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

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

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.14%. Corteva’s dividend payout ratio (DPR) is 52.71%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several research analyst reports. Royal Bank of Canada upped their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. KeyCorp raised their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. UBS Group dropped their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Bank of America boosted their target price on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Barclays boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.