Corteva, Inc. (NYSE:CTVA) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in Corteva, Inc. (NYSE:CTVA) by 19.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 373,930 shares of the company’s stock after selling 89,470 shares during the quarter. Prudential Financial Inc. owned about 0.05% of Corteva worth $21,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. Great Valley Advisor Group Inc. purchased a new position in shares of Corteva in the third quarter worth about $203,000. Larson Financial Group LLC lifted its stake in Corteva by 62.1% in the 3rd quarter. Larson Financial Group LLC now owns 6,957 shares of the company’s stock worth $409,000 after purchasing an additional 2,665 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Corteva by 12.9% during the 3rd quarter. Fisher Asset Management LLC now owns 9,043 shares of the company’s stock worth $532,000 after purchasing an additional 1,030 shares during the last quarter. Independent Advisor Alliance grew its position in shares of Corteva by 7.7% in the third quarter. Independent Advisor Alliance now owns 7,862 shares of the company’s stock valued at $462,000 after purchasing an additional 565 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Corteva by 10.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,279,230 shares of the company’s stock valued at $75,205,000 after purchasing an additional 126,090 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred 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 owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of recent research reports. Barclays raised their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group assumed coverage on shares of Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 price objective for the company. Citigroup boosted their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. UBS Group cut their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Oppenheimer upped their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Corteva Stock Performance

NYSE CTVA opened at $62.73 on Thursday. The company has a market cap of $43.01 billion, a P/E ratio of 48.63, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock has a 50-day moving average of $62.54 and a two-hundred day moving average of $60.01.

Corteva (NYSE:CTVA) last announced 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 return on equity of 7.19% and a net margin of 5.36%. As a group, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued 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 1.08%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.