Signaturefd LLC Increases Stake in Corteva, Inc. (NYSE:CTVA)

Signaturefd LLC raised its stake in Corteva, Inc. (NYSE:CTVA) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,181 shares of the company’s stock after purchasing an additional 226 shares during the period. Signaturefd LLC’s holdings in Corteva were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Geode Capital Management LLC grew its stake in Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after purchasing an additional 355,206 shares during the last quarter. Franklin Resources Inc. grew its stake in Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares during the last quarter. Harris Associates L P grew its stake in Corteva by 1.4% in the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after purchasing an additional 200,917 shares during the last quarter. Finally, FMR LLC grew its stake in Corteva by 1.9% in the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after purchasing an additional 203,126 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 1.0 %

Shares of CTVA stock opened at $61.86 on Friday. The stock has a 50 day moving average of $62.34 and a 200 day moving average of $59.81. 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 cap of $42.41 billion, a P/E ratio of 47.95, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

Corteva (NYSE:CTVA) last announced 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 net margin of 5.36% and a return on equity of 7.19%. As a group, sell-side analysts expect 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 given 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 is currently 52.71%.

Insider Activity at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business’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 in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CTVA shares. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. Barclays raised their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Bank of America raised their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. The Goldman Sachs Group started coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target for the company. Finally, Wells Fargo & Company raised their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

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.