Corteva, Inc. (NYSE:CTVA) Shares Sold by Ieq Capital LLC

Ieq Capital LLC lessened its stake in Corteva, Inc. (NYSE:CTVA) by 69.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,062 shares of the company’s stock after selling 17,956 shares during the quarter. Ieq Capital LLC’s holdings in Corteva were worth $459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV raised its holdings in Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares during the period. Oak Thistle LLC acquired a new position in Corteva in the 4th quarter worth about $1,514,000. Charles Schwab Investment Management Inc. raised its holdings in Corteva by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after purchasing an additional 66,052 shares during the period. Van ECK Associates Corp raised its holdings in Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after purchasing an additional 525,531 shares during the period. Finally, Swedbank AB raised its holdings in Corteva by 51.9% in the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after purchasing an additional 237,764 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CTVA. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report 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. 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. Finally, Bank of America boosted their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $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 SEC, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

Corteva Price Performance

CTVA stock opened at $62.65 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business has a 50 day simple moving average of $61.09 and a 200-day simple moving average of $59.12. The firm has a market capitalization of $42.95 billion, a PE ratio of 48.57, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

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

Corteva declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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.