Haverford Trust Co Reduces Position in Corteva, Inc. (NYSE:CTVA)

Haverford Trust Co decreased its position in Corteva, Inc. (NYSE:CTVA) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 66,211 shares of the company’s stock after selling 1,077 shares during the period. Haverford Trust Co’s holdings in Corteva were worth $3,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new position in Corteva during the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva during the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new position in shares of Corteva during the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva in the fourth quarter worth $32,000. Finally, Centricity Wealth Management LLC bought a new stake in Corteva in the fourth quarter valued at $34,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $62.12 on Tuesday. The company has a market capitalization of $42.59 billion, a price-to-earnings ratio of 48.16, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company’s 50-day moving average is $62.48 and its 200 day moving average is $59.95.

Corteva (NYSE:CTVA) last announced its quarterly earnings results 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%. Sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Insider Activity at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Oppenheimer lifted their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.00.

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.