O Shaughnessy Asset Management LLC Acquires 18,058 Shares of Corteva, Inc. (NYSE:CTVA)

O Shaughnessy Asset Management LLC increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 11.4% during the fourth quarter, HoldingsChannel reports. The firm owned 176,491 shares of the company’s stock after buying an additional 18,058 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Corteva were worth $10,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its stake in Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after acquiring an additional 156 shares during the period. Avidian Wealth Enterprises LLC raised its holdings in shares of Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after purchasing an additional 157 shares during the last quarter. Beacon Capital Management LLC lifted its position in Corteva by 13.4% during the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after purchasing an additional 158 shares during the period. Lake Street Advisors Group LLC boosted its holdings in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares during the last quarter. Finally, Roble Belko & Company Inc grew its position in Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $62.96 on Tuesday. The stock has a 50-day moving average price of $62.55 and a 200 day moving average price of $60.19. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The stock has a market capitalization of $43.00 billion, a P/E ratio of 48.80, a P/E/G ratio of 1.68 and a beta of 0.79.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CTVA. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Monday. Oppenheimer boosted their price target on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. KeyCorp boosted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Barclays increased their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.06.

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.