Corteva, Inc. (NYSE:CTVA) Shares Purchased by Argyle Capital Management LLC

Argyle Capital Management LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,374 shares of the company’s stock after purchasing an additional 542 shares during the quarter. Argyle Capital Management LLC’s holdings in Corteva were worth $1,502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its stake in Corteva by 1.1% during the third quarter. Private Advisor Group LLC now owns 28,482 shares of the company’s stock worth $1,674,000 after acquiring an additional 313 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Corteva during the 3rd quarter valued at about $8,239,000. Assenagon Asset Management S.A. grew its position in Corteva by 288.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 64,588 shares of the company’s stock valued at $3,797,000 after acquiring an additional 47,953 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Corteva by 20.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,441 shares of the company’s stock worth $2,369,000 after purchasing an additional 6,919 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Corteva by 3.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 142,530 shares of the company’s stock worth $8,086,000 after purchasing an additional 4,552 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

Corteva Price Performance

CTVA stock opened at $62.82 on Friday. The stock has a market cap of $43.07 billion, a price-to-earnings ratio of 48.70, a PEG ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week 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 business has a 50 day moving average price of $61.23 and a 200 day moving average price of $59.14.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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%. Equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTVA. Barclays lifted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Oppenheimer boosted their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. KeyCorp increased their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada increased their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.73.

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.