Corteva, Inc. (NYSE:CTVA) Position Raised by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lifted its position in Corteva, Inc. (NYSE:CTVAFree Report) by 21.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,750 shares of the company’s stock after buying an additional 2,054 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Corteva were worth $669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Corteva in the third quarter worth about $99,869,000. Franklin Resources Inc. raised its holdings in shares of Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after purchasing an additional 856,007 shares in the last quarter. KBC Group NV raised its holdings in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares in the last quarter. State Street Corp increased its holdings in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after buying an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Corteva by 176.0% in the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after buying an additional 596,073 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 1.7 %

NYSE:CTVA opened at $62.75 on Friday. The stock’s 50 day moving average price is $60.81 and its 200 day moving average price is $58.88. 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 $43.02 billion, a P/E ratio of 48.64, a P/E/G ratio of 1.68 and a beta of 0.78. 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 (NYSE:CTVAGet Free Report) last announced its quarterly 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%. On average, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

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

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CTVA shares. 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 report on Friday, January 10th. Citigroup boosted their price target 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 boosted their price target on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, KeyCorp upped their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $67.73.

Check Out Our Latest Stock Analysis on Corteva

Corteva Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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