Brandywine Global Investment Management LLC Acquires Shares of 149,901 Corteva, Inc. (NYSE:CTVA)

Brandywine Global Investment Management LLC bought a new position in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, Holdings Channel.com reports. The firm bought 149,901 shares of the company’s stock, valued at approximately $8,538,000.

Other institutional investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in Corteva in the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva in the 4th quarter worth about $26,000. Hager Investment Management Services LLC bought a new position in Corteva during the fourth quarter valued at about $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva during the fourth quarter worth about $32,000. Finally, Centricity Wealth Management LLC bought a new stake in Corteva in the fourth quarter worth about $34,000. 81.54% of the stock is owned by institutional investors.

Insider Transactions at Corteva

In related 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 transaction of $1,692,934.40. Following the transaction, 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 SEC, which is accessible through this link. 0.14% of the stock is currently owned by insiders.

Corteva Price Performance

NYSE:CTVA opened at $62.96 on Tuesday. The firm has a market capitalization of $43.00 billion, a price-to-earnings ratio of 48.80, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a fifty day moving average of $62.55 and a 200 day moving average of $60.19. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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 expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CTVA shares. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Monday. 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 report on Tuesday, January 28th. The Goldman Sachs Group started coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 price target on the stock. Barclays lifted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, KeyCorp upped their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average price target of $68.06.

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.