Cornercap Investment Counsel Inc. Has $754,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Cornercap Investment Counsel Inc. lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,235 shares of the company’s stock after selling 512 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Corteva were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CTVA. Fisher Asset Management LLC lifted its position in Corteva by 12.9% during the third quarter. Fisher Asset Management LLC now owns 9,043 shares of the company’s stock worth $532,000 after acquiring an additional 1,030 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of Corteva by 13.1% during the third quarter. Townsquare Capital LLC now owns 29,739 shares of the company’s stock worth $1,748,000 after purchasing an additional 3,449 shares during the period. Public Sector Pension Investment Board lifted its holdings in Corteva by 11.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 29,502 shares of the company’s stock worth $1,734,000 after purchasing an additional 3,000 shares during the last quarter. Verition Fund Management LLC lifted its holdings in Corteva by 8.5% during the 3rd quarter. Verition Fund Management LLC now owns 69,153 shares of the company’s stock worth $4,066,000 after purchasing an additional 5,426 shares during the last quarter. Finally, Ironwood Investment Counsel LLC boosted its stake in Corteva by 2.7% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 65,128 shares of the company’s stock valued at $3,829,000 after purchasing an additional 1,729 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CTVA. Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. UBS Group decreased 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. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Finally, KeyCorp boosted their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. One 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Corteva Stock Down 2.2 %

CTVA stock opened at $61.08 on Friday. The stock has a market capitalization of $41.72 billion, a P/E ratio of 47.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. 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 firm has a 50-day moving average price of $62.53 and a 200-day moving average price of $60.10. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. The ex-dividend date 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 presently 52.71%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

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.