Scotia Capital Inc. Boosts Holdings in Corteva, Inc. (NYSE:CTVA)

Scotia Capital Inc. lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,843 shares of the company’s stock after purchasing an additional 329 shares during the period. Scotia Capital Inc.’s holdings in Corteva were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Corteva in the fourth quarter valued at approximately $251,892,000. Raymond James Financial Inc. purchased a new position in Corteva in the 4th quarter valued at $161,052,000. Franklin Resources Inc. boosted its stake in Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Corteva by 69.0% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company’s stock worth $163,181,000 after buying an additional 1,172,110 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Corteva by 44.8% in the fourth quarter. Bessemer Group Inc. now owns 3,090,839 shares of the company’s stock valued at $176,053,000 after buying an additional 956,775 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 1.7 %

Shares of NYSE CTVA opened at $60.28 on Tuesday. 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 capitalization of $41.17 billion, a PE ratio of 46.73, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The stock has a fifty day simple moving average of $61.20 and a 200-day simple moving average of $60.27.

Corteva (NYSE:CTVA) last released its earnings results 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 return on equity of 7.19% and a net margin of 5.36%. On average, equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup increased their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Argus raised 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, March 31st. Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company upped their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $68.13.

Insider Buying and Selling at Corteva

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

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.