Commerzbank Aktiengesellschaft FI Purchases Shares of 4,580 Corteva, Inc. (NYSE:CTVA)

Commerzbank Aktiengesellschaft FI purchased a new stake in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,580 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new stake in Corteva in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC acquired a new stake in Corteva in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the 4th quarter valued at about $32,000. Centricity Wealth Management LLC acquired a new stake in Corteva during the 4th quarter worth about $34,000. Finally, First Financial Corp IN acquired a new stake in Corteva during the 4th quarter worth about $35,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Up 2.3 %

CTVA opened at $61.17 on Thursday. 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 stock has a market capitalization of $41.94 billion, a price-to-earnings ratio of 47.42, a P/E/G ratio of 1.68 and a beta of 0.79. The business has a 50 day moving average of $61.52 and a 200-day moving average of $59.44.

Corteva (NYSE:CTVA) last posted its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.11%. Corteva’s dividend payout ratio is 52.71%.

Corteva declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits 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 management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on CTVA shares. Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada boosted their price objective on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Bank of America boosted their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company boosted their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.79.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company’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 completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $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 SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Corteva Company 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.