Huntington National Bank Raises Holdings in Corteva, Inc. (NYSE:CTVA)

Huntington National Bank boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 342,340 shares of the company’s stock after acquiring an additional 7,408 shares during the period. Huntington National Bank’s holdings in Corteva were worth $19,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CTVA. Flagship Wealth Advisors LLC purchased a new stake in Corteva during the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new stake in shares of Corteva in the 4th quarter worth $26,000. Hager Investment Management Services LLC purchased a new position in Corteva during the 4th quarter worth $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva in the fourth quarter valued at about $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in Corteva in the fourth quarter worth about $34,000. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CTVA shares. Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Bank of America lifted their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, KeyCorp increased their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One investment 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Corteva Price Performance

Shares of Corteva stock opened at $63.54 on Wednesday. The firm has a market cap of $43.40 billion, a PE ratio of 49.26, a P/E/G ratio of 1.68 and a beta of 0.79. The business has a 50-day moving average price of $62.56 and a 200 day moving average price of $60.23. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

Corteva (NYSE:CTVA) last posted 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 return on equity of 7.19% and a net margin of 5.36%. Sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the company’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 value of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

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.