EverSource Wealth Advisors LLC Sells 208 Shares of Corteva, Inc. (NYSE:CTVA)

EverSource Wealth Advisors LLC trimmed its position in Corteva, Inc. (NYSE:CTVA) by 11.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after acquiring an additional 768,519 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Corteva by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after purchasing an additional 355,206 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares during the period. Harris Associates L P raised its stake in shares of Corteva by 1.4% during the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after buying an additional 200,917 shares during the last quarter. Finally, FMR LLC lifted its holdings in Corteva by 1.9% in the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after buying an additional 203,126 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Corteva Stock Down 0.1 %

NYSE:CTVA opened at $61.51 on Wednesday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a 50-day simple moving average of $62.14 and a 200 day simple moving average of $59.77. The company has a market cap of $42.17 billion, a PE ratio of 47.68, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last released its 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%. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

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

Corteva Announces Dividend

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

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent research reports. Oppenheimer upped their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group began coverage on Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price on the stock. Royal Bank of Canada boosted their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup increased their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, KeyCorp boosted their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.