Corteva, Inc. (NYSE:CTVA) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 140,970 shares of the company’s stock after purchasing an additional 2,309 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Corteva were worth $8,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its position in Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after purchasing an additional 355,206 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares in the last quarter. Harris Associates L P lifted its holdings in shares of Corteva by 1.4% in the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after purchasing an additional 200,917 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Corteva by 1.9% in the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after purchasing an additional 203,126 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The shares were 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 owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CTVA shares. The Goldman Sachs Group started coverage on shares of Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target on the stock. Oppenheimer upped their price target on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. KeyCorp upped their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Wells Fargo & Company upped their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada upped their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Corteva Stock Performance

NYSE:CTVA opened at $61.86 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The company has a market cap of $42.41 billion, a P/E ratio of 47.95, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The firm’s 50 day moving average is $62.34 and its two-hundred day moving average is $59.81.

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 return on equity of 7.19% and a net margin of 5.36%. Analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. 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.