Xponance Inc. Boosts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Xponance Inc. grew its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,192 shares of the company’s stock after purchasing an additional 3,108 shares during the quarter. Xponance Inc.’s holdings in Corteva were worth $8,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC increased its holdings in Corteva by 254.5% in the 4th quarter. Intech Investment Management LLC now owns 28,832 shares of the company’s stock worth $1,642,000 after acquiring an additional 20,699 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in Corteva in the 4th quarter worth $1,659,000. Evoke Wealth LLC increased its holdings in Corteva by 6.8% in the 4th quarter. Evoke Wealth LLC now owns 5,214 shares of the company’s stock worth $297,000 after acquiring an additional 330 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Corteva by 1.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,039,578 shares of the company’s stock worth $59,232,000 after acquiring an additional 14,312 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in Corteva by 25.8% in the 4th quarter. William Blair Investment Management LLC now owns 38,726 shares of the company’s stock worth $2,206,000 after acquiring an additional 7,946 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.1 %

Shares of CTVA opened at $61.51 on Wednesday. The firm has a market cap of $42.17 billion, a P/E ratio of 47.68, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company’s 50-day moving average price is $62.14 and its 200 day moving average price is $59.77. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued 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%. On average, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.11%. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Corteva announced that its Board of Directors has initiated a share buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on CTVA shares. Oppenheimer boosted their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company lifted 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. The Goldman Sachs Group started coverage on shares of Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 target price on the stock. Citigroup lifted their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their target price 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

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.