Corteva, Inc. (NYSE:CTVA) Position Cut by Glenview Trust co

Glenview Trust co trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,349 shares of the company’s stock after selling 184 shares during the quarter. Glenview Trust co’s holdings in Corteva were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Oak Thistle LLC acquired a new stake in Corteva in the fourth quarter worth approximately $1,514,000. Charles Schwab Investment Management Inc. lifted its position in Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after purchasing an additional 66,052 shares during the period. Van ECK Associates Corp lifted its position in Corteva by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after purchasing an additional 525,531 shares during the period. Swedbank AB lifted its position in Corteva by 51.9% in the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after purchasing an additional 237,764 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after purchasing an additional 488,181 shares during the period. 81.54% of the stock is owned by institutional investors.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $61.67 on Tuesday. The stock has a market cap of $42.28 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The business has a fifty day simple moving average of $62.05 and a 200-day simple moving average of $59.74. The company has a quick ratio of 0.93, a current ratio of 1.45 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.

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 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%. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva declared that its board has authorized a stock buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. Corteva’s payout ratio is 52.71%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CTVA shares. Royal Bank of Canada upped their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup increased their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Oppenheimer increased their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.