Ausdal Financial Partners Inc. Makes New Investment in Corteva, Inc. (NYSE:CTVA)

Ausdal Financial Partners Inc. bought a new stake in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, HoldingsChannel reports. The fund bought 4,723 shares of the company’s stock, valued at approximately $269,000.

Other large investors have also modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp increased its position in Corteva by 0.6% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 333,616 shares of the company’s stock valued at $19,003,000 after acquiring an additional 1,828 shares during the period. Baxter Bros Inc. raised its position in Corteva by 1.6% during the 4th quarter. Baxter Bros Inc. now owns 15,012 shares of the company’s stock worth $855,000 after buying an additional 236 shares during the last quarter. TIAA Trust National Association raised its holdings in Corteva by 7.6% during the fourth quarter. TIAA Trust National Association now owns 13,748 shares of the company’s stock worth $783,000 after purchasing an additional 975 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in shares of Corteva by 33.2% in the 4th quarter. Modern Wealth Management LLC now owns 5,775 shares of the company’s stock valued at $359,000 after buying an additional 1,440 shares during the period. Finally, CoreFirst Bank & Trust acquired a new stake in Corteva in the fourth quarter valued at $50,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $61.08 on Friday. 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 company has a market capitalization of $41.88 billion, a price-to-earnings ratio of 47.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The business has a 50 day simple moving average of $62.53 and a 200-day simple moving average of $60.07.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. Corteva’s payout ratio is currently 52.71%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. 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 report on Friday, February 7th. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Bank of America upped their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. One equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.00.

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.