Corteva, Inc. (NYSE:CTVA) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its stake in Corteva, Inc. (NYSE:CTVA) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,000 shares of the company’s stock after selling 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Corteva were worth $2,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. Hager Investment Management Services LLC purchased a new position in shares of Corteva in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $32,000. Capital Advisors Ltd. LLC grew its holdings in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. First Financial Corp IN acquired a new position in Corteva during the 4th quarter worth approximately $35,000. Finally, Albion Financial Group UT increased its position in shares of 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 purchasing an additional 321 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 1.8 %

NYSE:CTVA opened at $64.00 on Friday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $60.30 and its 200-day simple moving average is $58.41. The firm has a market cap of $43.99 billion, a P/E ratio of 49.61, a PEG ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced 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 net margin of 5.36% and a return on equity of 7.19%. Equities analysts anticipate that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva announced that its board has approved a stock repurchase plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CTVA shares. Wells Fargo & Company boosted their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. Citigroup upped their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. UBS Group dropped their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, KeyCorp upped their target price 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

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.