Intech Investment Management LLC Grows Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Intech Investment Management LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 254.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,832 shares of the company’s stock after buying an additional 20,699 shares during the period. Intech Investment Management LLC’s holdings in Corteva were worth $1,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Chicago Partners Investment Group LLC boosted its position in shares of Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after buying an additional 156 shares during the period. Avidian Wealth Enterprises LLC boosted its position in shares of Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after buying an additional 157 shares during the period. Beacon Capital Management LLC boosted its position in shares of Corteva by 13.4% during the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after buying an additional 158 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of 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 buying an additional 160 shares during the period. Finally, Roble Belko & Company Inc boosted its position in shares of Corteva by 5.5% during the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after buying an additional 166 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on CTVA shares. The Goldman Sachs Group began coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 price target for the company. Wells Fargo & Company lifted their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Royal Bank of Canada lifted their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays lifted their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

Corteva Stock Down 0.2 %

CTVA opened at $61.70 on Friday. The business’s 50-day simple moving average is $62.44 and its 200-day simple moving average is $59.84. 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 stock has a market capitalization of $42.30 billion, a P/E ratio of 47.83, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last posted 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%. Analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

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 $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.