WealthTrust Axiom LLC Buys 429 Shares of Corteva, Inc. (NYSE:CTVA)

WealthTrust Axiom LLC lifted its position in Corteva, Inc. (NYSE:CTVA) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,593 shares of the company’s stock after acquiring an additional 429 shares during the quarter. WealthTrust Axiom LLC’s holdings in Corteva were worth $432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Oak Thistle LLC bought a new position in Corteva in the 4th quarter valued at $1,514,000. Van ECK Associates Corp boosted its holdings in shares of Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after buying an additional 525,531 shares during the last quarter. Swedbank AB grew its position in Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after buying an additional 237,764 shares during the period. Assenagon Asset Management S.A. increased its holdings in Corteva by 755.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after buying an additional 488,181 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC raised its position in Corteva by 54.5% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock worth $5,474,000 after acquiring an additional 33,886 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 2.3 %

Shares of CTVA opened at $59.27 on Friday. The stock has a market capitalization of $40.48 billion, a PE ratio of 45.95, a P/E/G ratio of 1.68 and a beta of 0.73. The company’s fifty day moving average is $61.27 and its 200 day moving average is $60.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 1.15%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is presently 52.71%.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Monday, March 31st. Barclays boosted their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Citigroup increased their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus target price of $68.06.

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.