Clifford Swan Investment Counsel LLC Has $29.23 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Clifford Swan Investment Counsel LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 513,122 shares of the company’s stock after buying an additional 515 shares during the period. Corteva comprises 1.1% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its 24th largest position. Clifford Swan Investment Counsel LLC’s holdings in Corteva were worth $29,227,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Noble Wealth Management PBC acquired a new stake in Corteva in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC acquired a new stake in Corteva in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the 4th quarter valued at about $32,000. Centricity Wealth Management LLC acquired a new stake in Corteva in the 4th quarter valued at about $34,000. Finally, First Financial Corp IN acquired a new stake in Corteva in the 4th quarter valued at about $35,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays raised 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. Wells Fargo & Company raised their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. UBS Group cut their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Oppenheimer raised their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, KeyCorp raised their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $67.79.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $62.96 on Friday. The company’s 50 day simple moving average is $61.34 and its 200 day simple moving average is $59.28. The stock has a market capitalization of $43.16 billion, a price-to-earnings ratio of 48.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. 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.

Corteva (NYSE:CTVA) last announced 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 net margin of 5.36% and a return on equity of 7.19%. As a group, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.08%. Corteva’s dividend payout ratio (DPR) is 52.71%.

Corteva announced that its board has authorized a share repurchase program 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 programs are typically an indication that the company’s board believes its stock is undervalued.

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.