Corteva, Inc. (NYSE:CTVA) Shares Sold by National Pension Service

National Pension Service reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 57.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 908,902 shares of the company’s stock after selling 1,228,923 shares during the quarter. National Pension Service’s holdings in Corteva were worth $51,771,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC acquired a new stake in Corteva in the 4th quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the 4th quarter valued at approximately $32,000. Centricity Wealth Management LLC acquired a new stake in Corteva in the 4th quarter valued at approximately $34,000. First Financial Corp IN acquired a new position in shares of Corteva during the 4th quarter valued at $35,000. Finally, Albion Financial Group UT increased its position in shares of Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTVA. KeyCorp lifted their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $67.73.

Corteva Stock Up 0.0 %

Shares of CTVA opened at $62.82 on Friday. The firm has a market capitalization of $43.07 billion, a price-to-earnings ratio of 48.70, a PEG ratio of 1.68 and a beta of 0.78. 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 business’s fifty day moving average price is $61.23 and its two-hundred day moving average price is $59.14. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24.

Corteva (NYSE:CTVA) last posted its quarterly earnings results 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, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

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 paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is presently 52.71%.

Corteva declared that its board has initiated a share buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction on 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 sale, the insider now 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 can be accessed through this link. 0.14% of the stock is currently owned by company insiders.

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.