GWN Securities Inc. Acquires New Stake in Corteva, Inc. (NYSE:CTVA)

GWN Securities Inc. acquired a new stake in Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,477 shares of the company’s stock, valued at approximately $654,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Chicago Partners Investment Group LLC increased its holdings in Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares during the period. Beacon Capital Management LLC increased its holdings in Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares during the period. Lake Street Advisors Group LLC increased its holdings in Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares during the period. Finally, Roble Belko & Company Inc increased its holdings in Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 2.2 %

Corteva stock opened at $59.90 on Monday. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The stock has a 50 day moving average of $61.96 and a two-hundred day moving average of $59.71. 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 stock has a market capitalization of $41.06 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. As a group, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. Corteva’s dividend payout ratio is currently 52.71%.

Corteva announced that its board has approved a stock repurchase plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on CTVA shares. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada increased their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report 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 report on Friday, February 7th. The Goldman Sachs Group started coverage on Corteva in a report on Thursday. They issued a “buy” rating and a $71.00 price objective on the stock. Finally, Barclays increased their price objective 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 issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction 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.

Corteva 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.