Atria Investments Inc Increases Stake in Corteva, Inc. (NYSE:CTVA)

Atria Investments Inc raised its stake in Corteva, Inc. (NYSE:CTVA) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,624 shares of the company’s stock after purchasing an additional 8,493 shares during the period. Atria Investments Inc’s holdings in Corteva were worth $5,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTVA. Farther Finance Advisors LLC grew its stake in Corteva by 26.5% in the third quarter. Farther Finance Advisors LLC now owns 4,210 shares of the company’s stock valued at $248,000 after purchasing an additional 881 shares during the last quarter. QRG Capital Management Inc. grew its stake in Corteva by 5.7% in the third quarter. QRG Capital Management Inc. now owns 26,429 shares of the company’s stock valued at $1,554,000 after purchasing an additional 1,420 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in Corteva by 9.5% in the third quarter. Crestwood Advisors Group LLC now owns 4,889 shares of the company’s stock valued at $287,000 after purchasing an additional 423 shares during the last quarter. Olstein Capital Management L.P. grew its stake in Corteva by 2.5% in the third quarter. Olstein Capital Management L.P. now owns 162,960 shares of the company’s stock valued at $9,580,000 after purchasing an additional 3,960 shares during the last quarter. Finally, Tandem Investment Advisors Inc. purchased a new position in Corteva in the third quarter valued at about $216,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Oppenheimer raised their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, KeyCorp raised their price target on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.79.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 $723,257.78. The trade was 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 through this link. Company insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.5 %

Shares of CTVA stock opened at $60.88 on Friday. The stock has a 50 day moving average of $61.59 and a 200 day moving average of $59.45. 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 stock has a market cap of $41.73 billion, a P/E ratio of 47.19, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

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

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva announced that its board has approved a share buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Corteva Company 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.