Glenview Trust co Lowers Stake in Corteva, Inc. (NYSE:CTVA)

Glenview Trust co lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,349 shares of the company’s stock after selling 184 shares during the period. Glenview Trust co’s holdings in Corteva were worth $533,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC purchased a new stake in Corteva during the fourth quarter valued at about $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva during the fourth quarter valued at about $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva during the fourth quarter valued at about $32,000. Centricity Wealth Management LLC purchased a new stake in Corteva during the fourth quarter valued at about $34,000. Finally, First Financial Corp IN acquired a new position in shares of Corteva during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the company’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 transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent research reports. Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Bank of America boosted their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Barclays boosted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 price objective on the stock. Finally, UBS Group reduced 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. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Corteva Trading Up 3.1 %

Shares of NYSE CTVA opened at $61.67 on Tuesday. The stock’s 50 day moving average price is $62.05 and its two-hundred day moving average price is $59.74. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The stock has a market capitalization of $42.28 billion, a P/E ratio of 47.81, a PEG ratio of 1.68 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (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%. On average, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva declared that its board has approved a stock buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 1.10%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.