Wealthspire Advisors LLC Reduces Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Wealthspire Advisors LLC trimmed its position in Corteva, Inc. (NYSE:CTVA) by 4.4% during the 4th quarter, HoldingsChannel reports. The firm owned 6,485 shares of the company’s stock after selling 301 shares during the period. Wealthspire Advisors LLC’s holdings in Corteva were worth $369,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CTVA. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Corteva in the third quarter worth about $99,869,000. Franklin Resources Inc. lifted its position in shares of Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after buying an additional 856,007 shares in the last quarter. KBC Group NV lifted its position in shares of Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares in the last quarter. State Street Corp lifted its position in shares of 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 buying an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Corteva by 176.0% during the 3rd 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. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $62.65 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The stock’s 50 day simple moving average is $61.09 and its two-hundred day simple moving average is $59.12. The company has a market cap of $42.95 billion, a price-to-earnings ratio of 48.57, a PEG ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings data 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%. As a group, equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva declared that its board has authorized a stock 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 reacquire 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.09%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. Citigroup lifted their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. KeyCorp lifted their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Oppenheimer lifted their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

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.