Xponance Inc. Grows Position in Corteva, Inc. (NYSE:CTVA)

Xponance Inc. increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 143,192 shares of the company’s stock after buying an additional 3,108 shares during the quarter. Xponance Inc.’s holdings in Corteva were worth $8,156,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $32,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $34,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Corteva Price Performance

CTVA stock opened at $61.51 on Wednesday. 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 business has a 50 day simple moving average of $62.14 and a 200-day simple moving average of $59.77. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a market capitalization of $42.17 billion, a P/E ratio of 47.68, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last issued 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 return on equity of 7.19% and a net margin of 5.36%. As a group, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

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

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

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

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.