Atria Wealth Solutions Inc. Boosts Stake in Corteva, Inc. (NYSE:CTVA)

Atria Wealth Solutions Inc. increased its position in Corteva, Inc. (NYSE:CTVA) by 9.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,174 shares of the company’s stock after purchasing an additional 3,060 shares during the period. Atria Wealth Solutions Inc.’s holdings in Corteva were worth $2,117,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC raised its stake in Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after acquiring an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after acquiring an additional 157 shares during the last quarter. Beacon Capital Management LLC raised its stake in Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after acquiring an additional 158 shares during the last quarter. Roble Belko & Company Inc raised its stake in Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after acquiring an additional 166 shares during the last quarter. Finally, Rovin Capital UT ADV raised its stake in Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after acquiring an additional 168 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

Corteva stock opened at $62.75 on Friday. 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 stock has a fifty day moving average of $60.81 and a two-hundred day moving average of $58.88. The company has a market capitalization of $43.02 billion, a price-to-earnings ratio of 48.64, a PEG ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24.

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

Corteva Announces Dividend

The business 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 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 52.71%.

Corteva declared that its board has authorized a stock repurchase program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTVA. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada boosted their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Citigroup boosted their target price on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

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.