Vanguard Group Inc. Has $4.51 Billion Stock Position in Corteva, Inc. (NYSE:CTVA)

Vanguard Group Inc. boosted its position in Corteva, Inc. (NYSE:CTVA) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 79,174,847 shares of the company’s stock after acquiring an additional 646,459 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of Corteva worth $4,509,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in shares of Corteva in the fourth quarter worth about $25,000. Noble Wealth Management PBC acquired a new stake in Corteva in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new position in Corteva in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $32,000. Finally, Centricity Wealth Management LLC bought a new stake in shares of Corteva in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA stock opened at $62.12 on Tuesday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The stock has a market capitalization of $42.59 billion, a PE ratio of 48.16, a PEG ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock’s fifty day moving average is $62.48 and its 200-day moving average is $59.95.

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

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Insider Buying and Selling

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction 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 sale, the insider now directly owns 11,347 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CTVA has been the subject of several research analyst reports. Oppenheimer upped their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays increased their target price on shares of 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 target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group started coverage on Corteva in a report on Thursday, March 13th. They set a “buy” rating and a $71.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.