Avidian Wealth Enterprises LLC Buys 157 Shares of Corteva, Inc. (NYSE:CTVA)

Avidian Wealth Enterprises LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 4,521 shares of the company’s stock after acquiring an additional 157 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Corteva were worth $258,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Kentucky Trust Co bought a new position in shares of Corteva in the 4th quarter valued at $157,000. Leavell Investment Management Inc. boosted its stake in Corteva by 1.0% in the fourth quarter. Leavell Investment Management Inc. now owns 22,018 shares of the company’s stock valued at $1,254,000 after buying an additional 212 shares in the last quarter. Quent Capital LLC grew its position in Corteva by 5.5% in the fourth quarter. Quent Capital LLC now owns 3,510 shares of the company’s stock valued at $200,000 after acquiring an additional 182 shares during the last quarter. Strengthening Families & Communities LLC raised its stake in Corteva by 2.3% during the fourth quarter. Strengthening Families & Communities LLC now owns 43,982 shares of the company’s stock worth $2,505,000 after acquiring an additional 999 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Corteva in the fourth quarter worth about $69,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTVA. UBS Group decreased their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada increased their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Oppenheimer raised their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup upped their target price on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.73.

Corteva Stock Up 1.8 %

Shares of NYSE CTVA opened at $64.00 on Friday. The company’s 50 day moving average price is $60.30 and its 200-day moving average price is $58.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a market capitalization of $43.99 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78.

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 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%. Equities analysts forecast that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. Corteva’s payout ratio is 52.71%.

Corteva declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.