Alliancebernstein L.P. Has $245.14 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Alliancebernstein L.P. trimmed its position in Corteva, Inc. (NYSE:CTVA) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,303,687 shares of the company’s stock after selling 317,983 shares during the quarter. Alliancebernstein L.P. owned about 0.63% of Corteva worth $245,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Corteva in the 4th quarter valued at approximately $251,892,000. Raymond James Financial Inc. acquired a new stake in shares of Corteva in the fourth quarter worth $161,052,000. Franklin Resources Inc. grew its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after acquiring an additional 856,007 shares during the last quarter. State Street Corp raised its stake in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after purchasing an additional 646,459 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $62.96 on Tuesday. 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 firm has a 50-day moving average of $62.55 and a 200-day moving average of $60.19. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company has a market cap of $43.00 billion, a P/E ratio of 48.80, a P/E/G ratio of 1.68 and a beta of 0.79.

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

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date 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%.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of analyst reports. Oppenheimer lifted their price objective on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. UBS Group cut their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Monday. Citigroup increased their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Bank of America boosted 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

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.