Vectors Research Management LLC Sells 1,263 Shares of Corteva, Inc. (NYSE:CTVA)

Vectors Research Management LLC lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 14.6% in the fourth quarter, Holdings Channel reports. The firm owned 7,389 shares of the company’s stock after selling 1,263 shares during the quarter. Vectors Research Management LLC’s holdings in Corteva were worth $421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in shares of Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock valued at $729,780,000 after acquiring an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP boosted its position in Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock valued at $939,641,000 after purchasing an additional 5,604,838 shares during the last quarter. Norges Bank bought a new position in Corteva in the fourth quarter valued at approximately $251,892,000. Raymond James Financial Inc. acquired a new position in shares of Corteva during the 4th quarter worth approximately $161,052,000. Finally, Franklin Resources Inc. increased its position in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CTVA shares. The Goldman Sachs Group began coverage on shares of Corteva in a research report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. KeyCorp lifted their price target on Corteva from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company lifted their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.13.

Corteva Trading Up 0.8 %

Shares of CTVA stock opened at $59.69 on Monday. The business has a 50-day moving average price of $60.97 and a two-hundred day moving average price of $60.31. Corteva, Inc. has a 12-month low of $50.01 and a 12-month 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. The firm has a market cap of $40.77 billion, a P/E ratio of 46.27, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last released 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%. Equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is 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.