Conning Inc. Sells 645 Shares of Corteva, Inc. (NYSE:CTVA)

Conning Inc. lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 15.0% in the 4th quarter, HoldingsChannel reports. The firm owned 3,669 shares of the company’s stock after selling 645 shares during the quarter. Conning Inc.’s holdings in Corteva were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTVA. Hager Investment Management Services LLC bought a new stake in Corteva in the fourth quarter worth $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva in the 4th quarter valued at about $32,000. Capital Advisors Ltd. LLC boosted its holdings in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the period. First Financial Corp IN bought a new position in Corteva during the 4th quarter worth approximately $35,000. Finally, Albion Financial Group UT increased its stake in Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Bank of America raised their price target on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company raised their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.31.

Corteva Stock Performance

Corteva stock opened at $62.32 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $60.22 and its 200 day moving average is $58.22. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a market capitalization of $42.83 billion, a P/E ratio of 48.31, a PEG ratio of 1.85 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 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%. On average, equities research analysts predict that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s payout ratio is 52.71%.

Corteva announced that its board has approved a share repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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.