Atria Wealth Solutions Inc. Increases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Atria Wealth Solutions Inc. increased its holdings in Corteva, Inc. (NYSE:CTVA) by 9.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 37,174 shares of the company’s stock after purchasing an additional 3,060 shares during the period. Atria Wealth Solutions Inc.’s holdings in Corteva were worth $2,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTVA. Hager Investment Management Services LLC acquired a new position in Corteva in the fourth quarter valued at $27,000. Golden State Wealth Management LLC acquired a new position in Corteva in the fourth quarter valued at $32,000. Capital Advisors Ltd. LLC boosted its holdings in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the last quarter. First Financial Corp IN acquired a new position in Corteva in the fourth quarter valued at $35,000. Finally, Albion Financial Group UT boosted its holdings in Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 1.7 %

Shares of Corteva stock opened at $62.75 on Friday. The firm has a market cap of $43.02 billion, a P/E ratio of 48.64, a P/E/G ratio of 1.68 and a beta of 0.78. The business has a 50-day moving average price of $60.81 and a 200 day moving average price of $58.88. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 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 fiscal year.

Corteva Dividend Announcement

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

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

Analyst Ratings Changes

CTVA has been the topic of a number of research analyst reports. Citigroup lifted their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.73.

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.