Lifeworks Advisors LLC Sells 3,376 Shares of Corteva, Inc. (NYSE:CTVA)

Lifeworks Advisors LLC decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 29.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,131 shares of the company’s stock after selling 3,376 shares during the period. Lifeworks Advisors LLC’s holdings in Corteva were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CTVA. Noble Wealth Management PBC acquired a new position in shares of Corteva during the fourth quarter worth approximately $26,000. Hager Investment Management Services LLC bought a new position in Corteva in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC acquired a new position in Corteva during the 4th quarter worth $32,000. Centricity Wealth Management LLC bought a new position in Corteva in the 4th quarter valued at $34,000. Finally, First Financial Corp IN acquired a new stake in shares of Corteva in the 4th quarter valued at $35,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

CTVA stock opened at $60.62 on Friday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. 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 firm has a market cap of $41.56 billion, a PE ratio of 46.99, a P/E/G ratio of 1.68 and a beta of 0.79. The business’s 50-day moving average price is $61.66 and its two-hundred day moving average price is $59.53.

Corteva (NYSE:CTVA) last released its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. As a group, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

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

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is 52.71%.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CTVA shares. UBS Group cut their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America upped their target price on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. KeyCorp lifted their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Finally, Citigroup raised their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.79.

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.