Corteva, Inc. (NYSE:CTVA) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in Corteva, Inc. (NYSE:CTVA) by 76.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,300 shares of the company’s stock after buying an additional 5,340 shares during the period. Intact Investment Management Inc.’s holdings in Corteva were worth $701,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chicago Partners Investment Group LLC lifted its position in Corteva by 1.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after purchasing an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after purchasing an additional 157 shares during the last quarter. Beacon Capital Management LLC lifted its position in Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after purchasing an additional 158 shares during the last quarter. Lake Street Advisors Group LLC lifted its position in Corteva by 3.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after purchasing an additional 160 shares during the last quarter. Finally, Roble Belko & Company Inc lifted its position in Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after purchasing an additional 166 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

Corteva stock opened at $59.90 on Friday. The firm’s 50 day simple moving average is $61.96 and its 200-day simple moving average is $59.69. The company has a market cap of $41.06 billion, a P/E ratio of 46.43, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. 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 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%. As a group, equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Corteva announced 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

CTVA has been the topic of several recent research reports. UBS Group cut their price objective 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. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company boosted their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group started coverage on shares of Corteva in a research report on Thursday. They set a “buy” rating and a $71.00 price target on the stock. Finally, Bank of America boosted their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred 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 directly owns 11,347 shares in the company, valued at $723,257.78. The trade was 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 through the SEC website. 0.14% of the stock is currently owned by insiders.

About Corteva

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.