Corteva, Inc. (NYSE:CTVA) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,806 shares of the company’s stock after selling 2,514 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Corteva were worth $4,204,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was 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 trade represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. The Goldman Sachs Group assumed coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target for the company. Citigroup upped their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Barclays raised their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, Oppenheimer upped their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Corteva Stock Performance

Corteva stock opened at $61.51 on Wednesday. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The company has a market capitalization of $42.17 billion, a price-to-earnings ratio of 47.68, a PEG ratio of 1.68 and a beta of 0.79. The stock has a fifty day moving average of $62.14 and a two-hundred day moving average of $59.77. 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:CTVA) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. On average, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its board has initiated a stock buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.11%. Corteva’s payout ratio is currently 52.71%.

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.