Wilkins Investment Counsel Inc. Trims Stake in Corteva, Inc. (NYSE:CTVA)

Wilkins Investment Counsel Inc. cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363,220 shares of the company’s stock after selling 2,375 shares during the quarter. Corteva accounts for about 3.0% of Wilkins Investment Counsel Inc.’s investment portfolio, making the stock its 7th largest holding. Wilkins Investment Counsel Inc. owned approximately 0.05% of Corteva worth $20,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its holdings in Corteva by 774.9% during the 4th quarter. Teacher Retirement System of Texas now owns 40,832 shares of the company’s stock valued at $2,326,000 after acquiring an additional 36,165 shares during the period. Royal London Asset Management Ltd. boosted its holdings in Corteva by 1.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 296,058 shares of the company’s stock valued at $16,863,000 after acquiring an additional 4,295 shares during the period. Koss Olinger Consulting LLC purchased a new stake in Corteva during the 4th quarter valued at about $618,000. Enhancing Capital LLC purchased a new stake in Corteva in the 4th quarter worth approximately $292,000. Finally, Xponance Inc. lifted its holdings in Corteva by 2.2% in the 4th quarter. Xponance Inc. now owns 143,192 shares of the company’s stock worth $8,156,000 after buying an additional 3,108 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Up 1.5 %

CTVA stock opened at $62.50 on Thursday. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm has a market cap of $42.85 billion, a PE ratio of 48.45, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The business has a 50 day moving average of $62.25 and a 200 day moving average of $59.79.

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

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction 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 owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTVA. KeyCorp increased their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Bank of America increased their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company increased their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Oppenheimer increased 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. Finally, The Goldman Sachs Group began coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.