Corteva, Inc. (NYSE:CTVA) Position Reduced by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC reduced its position in Corteva, Inc. (NYSE:CTVA) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,690 shares of the company’s stock after selling 208 shares during the period. EverSource Wealth Advisors LLC’s holdings in Corteva were worth $96,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CTVA. Noble Wealth Management PBC purchased a new stake in Corteva in the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new stake in Corteva during the fourth quarter valued at $27,000. Golden State Wealth Management LLC purchased a new position in Corteva in the fourth quarter valued at about $32,000. Centricity Wealth Management LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $34,000. Finally, First Financial Corp IN bought a new stake in Corteva in the fourth quarter worth $35,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

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 0.20% of the company’s stock.

Corteva Trading Down 0.1 %

CTVA stock opened at $61.51 on Wednesday. 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 business’s 50 day moving average is $62.14 and its 200-day moving average is $59.77. The firm has a market cap of $42.17 billion, a P/E ratio of 47.68, a P/E/G ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 2.96 earnings per share for the current fiscal year.

Corteva declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Analyst Ratings Changes

CTVA has been the subject of a number of analyst reports. Oppenheimer boosted their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays increased their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, The Goldman Sachs Group began coverage on shares of Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.00.

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.