Pointe Capital Management LLC Has $280,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Pointe Capital Management LLC trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,911 shares of the company’s stock after selling 711 shares during the period. Pointe Capital Management LLC’s holdings in Corteva were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Lake Street Advisors Group LLC lifted its stake in Corteva by 3.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares during the period. Illinois Municipal Retirement Fund acquired a new position in shares of Corteva in the 4th quarter worth approximately $12,860,000. Exchange Capital Management Inc. raised its holdings in shares of Corteva by 0.8% in the 4th quarter. Exchange Capital Management Inc. now owns 56,337 shares of the company’s stock worth $3,209,000 after buying an additional 469 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in shares of Corteva by 39.6% during the 4th quarter. Crestwood Advisors Group LLC now owns 6,823 shares of the company’s stock worth $389,000 after buying an additional 1,934 shares during the period. Finally, Hardman Johnston Global Advisors LLC boosted its stake in Corteva by 20.6% in the 4th quarter. Hardman Johnston Global Advisors LLC now owns 831,529 shares of the company’s stock valued at $47,364,000 after buying an additional 141,955 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on 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 transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Up 0.6 %

Shares of NYSE:CTVA opened at $62.96 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock has a market cap of $43.16 billion, a price-to-earnings ratio of 48.80, a P/E/G ratio of 1.68 and a beta of 0.78. The company has a 50 day moving average of $60.97 and a 200-day moving average of $59.09. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

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

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. UBS Group cut their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. KeyCorp lifted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

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.