Holderness Investments Co. Has $532,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Holderness Investments Co. increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,345 shares of the company’s stock after buying an additional 768 shares during the quarter. Holderness Investments Co.’s holdings in Corteva were worth $532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Corteva in the fourth quarter valued at $161,052,000. Franklin Resources Inc. raised its holdings in shares of Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after acquiring an additional 856,007 shares during the last quarter. State Street Corp lifted its position in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after acquiring an additional 768,519 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Corteva by 176.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after purchasing an additional 596,073 shares during the last quarter. Finally, Dearborn Partners LLC increased its holdings in Corteva by 5,353.8% during the 4th quarter. Dearborn Partners LLC now owns 547,230 shares of the company’s stock worth $31,170,000 after purchasing an additional 537,196 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 1.0 %

Shares of CTVA stock opened at $61.86 on Friday. 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 company has a 50 day moving average of $62.34 and a 200-day moving average of $59.81. The firm has a market cap of $42.41 billion, a P/E ratio of 47.95, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last issued its earnings results 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%. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.10%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Insiders Place Their Bets

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of a number of recent research reports. The Goldman Sachs Group began coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price on the stock. Oppenheimer raised their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. UBS Group reduced their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada upped their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.