Amalgamated Bank Sells 2,439 Shares of Corteva, Inc. (NYSE:CTVA)

Amalgamated Bank reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 133,968 shares of the company’s stock after selling 2,439 shares during the period. Amalgamated Bank’s holdings in Corteva were worth $7,631,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hager Investment Management Services LLC acquired a new position in Corteva during the 4th quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in shares of Corteva during the 4th quarter worth about $32,000. Centricity Wealth Management LLC acquired a new position in shares of Corteva during the 4th quarter worth about $34,000. First Financial Corp IN bought a new stake in Corteva during the 4th quarter valued at approximately $35,000. Finally, Albion Financial Group UT grew its holdings in Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTVA has been the subject of a number of research analyst reports. Barclays upped their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Royal Bank of Canada upped their target price 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. UBS Group decreased their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. KeyCorp boosted their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company increased their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.73.

Corteva Trading Down 0.5 %

Shares of CTVA opened at $62.65 on Thursday. The stock has a 50 day simple moving average of $61.09 and a 200-day simple moving average of $59.12. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a market cap of $42.95 billion, a PE ratio of 48.57, a PEG ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (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, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva declared that its board has initiated a share buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction 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 transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

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.