Sei Investments Co. Has $85.04 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Sei Investments Co. boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,492,917 shares of the company’s stock after buying an additional 13,295 shares during the quarter. Sei Investments Co.’s holdings in Corteva were worth $85,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in Corteva by 4.8% during the 4th quarter. American Century Companies Inc. now owns 131,538 shares of the company’s stock worth $7,492,000 after purchasing an additional 6,040 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in Corteva by 45.1% during the 4th quarter. Mizuho Securities USA LLC now owns 65,140 shares of the company’s stock worth $3,710,000 after purchasing an additional 20,251 shares during the last quarter. Virtu Financial LLC bought a new stake in Corteva during the 4th quarter worth about $588,000. Summit Global Investments bought a new stake in Corteva during the 4th quarter worth about $208,000. Finally, Douglass Winthrop Advisors LLC raised its holdings in Corteva by 34.8% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 6,803 shares of the company’s stock worth $387,000 after purchasing an additional 1,758 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTVA has been the subject of several recent research reports. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Bank of America upped their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Barclays upped their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Corteva Price Performance

NYSE CTVA opened at $61.70 on Friday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The business has a 50 day simple moving average of $62.44 and a 200 day simple moving average of $59.87. The stock has a market cap of $42.30 billion, a price-to-earnings ratio of 47.83, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last released its quarterly earnings results 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%. Analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

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

Insiders Place Their Bets

In other 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 value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

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.