Brandywine Global Investment Management LLC Buys New Holdings in Corteva, Inc. (NYSE:CTVA)

Brandywine Global Investment Management LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 149,901 shares of the company's stock, valued at approximately $8,538,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CTVA. Norges Bank bought a new stake in shares of Corteva during the 4th quarter worth about $251,892,000. Raymond James Financial Inc. bought a new position in Corteva during the 4th quarter valued at $161,052,000. Franklin Resources Inc. increased its position in shares of Corteva by 6.1% during the 3rd 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 period. State Street Corp increased its position in shares of Corteva by 2.3% during the 3rd 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 period. Finally, Vanguard Group Inc. raised its stake in shares of Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after buying an additional 646,459 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Down 9.2 %

Shares of NYSE:CTVA traded down $5.64 on Friday, reaching $55.66. The company had a trading volume of 6,391,602 shares, compared to its average volume of 3,247,942. The stock has a market capitalization of $38.02 billion, a P/E ratio of 43.15, a P/E/G ratio of 1.68 and a beta of 0.73. The stock has a 50-day moving average price of $62.36 and a 200 day moving average price of $60.29. Corteva, Inc. has a twelve month low of $50.01 and a twelve 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.

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Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.22%. Corteva's payout ratio is 52.71%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTVA. Bank of America raised their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. BNP Paribas upgraded Corteva to a "hold" rating in a report on Monday, February 10th. UBS Group reduced their target price on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $68.06.

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.