Corteva, Inc. (NYSE:CTVA) Holdings Trimmed by Amalgamated Bank

Amalgamated Bank reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,968 shares of the company’s stock after selling 2,439 shares during the period. Amalgamated Bank’s holdings in Corteva were worth $7,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hager Investment Management Services LLC acquired a new position in shares of Corteva in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in Corteva during the fourth quarter worth approximately $32,000. Centricity Wealth Management LLC acquired a new position in Corteva in the fourth quarter worth approximately $34,000. First Financial Corp IN bought a new position in shares of Corteva in the fourth quarter valued at $35,000. Finally, Albion Financial Group UT lifted its position in shares of Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CTVA shares. Barclays lifted their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a report on Monday, February 10th. Finally, KeyCorp boosted their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.73.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the company’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 sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

Corteva Trading Down 0.5 %

Shares of NYSE:CTVA opened at $62.65 on Thursday. The firm has a fifty day moving average of $61.09 and a two-hundred day moving average of $59.12. 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. The firm has a market capitalization of $42.95 billion, a P/E ratio of 48.57, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78.

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, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva’s payout ratio is 52.71%.

Corteva announced that its Board of Directors has authorized a share repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.