Corteva, Inc. (NYSE:CTVA) Stock Holdings Lifted by Great Lakes Advisors LLC

Great Lakes Advisors LLC raised its position in Corteva, Inc. (NYSE:CTVA) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Several other large investors also recently made changes to their positions in CTVA. Raymond James Financial Inc. bought a new stake in shares of Corteva during the 4th quarter worth about $161,052,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Corteva during the 3rd quarter worth about $99,869,000. Franklin Resources Inc. boosted its stake in shares of Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after acquiring an additional 856,007 shares in the last quarter. State Street Corp boosted its stake in shares of Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after acquiring an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Corteva by 176.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after acquiring an additional 596,073 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on CTVA. The Goldman Sachs Group began coverage on Corteva in a research note on Thursday. They set a “buy” rating and a $71.00 price target for the company. Oppenheimer increased their target price on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. KeyCorp increased their target price on Corteva from $68.00 to $70.00 and gave the company an “overweight” 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. Finally, Citigroup increased their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.00.

Corteva Trading Up 2.2 %

Shares of CTVA opened at $59.90 on Friday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $61.96 and a 200-day simple moving average of $59.69. The stock has a market cap of $41.06 billion, a PE ratio of 46.43, a PEG ratio of 1.68 and a beta of 0.79.

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 analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its board has authorized a share buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Corteva’s payout ratio is presently 52.71%.

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.