Corteva, Inc. (NYSE:CTVA) Shares Acquired by Cambiar Investors LLC

Cambiar Investors LLC lifted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 735,180 shares of the company's stock after buying an additional 32,699 shares during the period. Corteva makes up about 1.7% of Cambiar Investors LLC's investment portfolio, making the stock its 25th biggest position. Cambiar Investors LLC owned approximately 0.11% of Corteva worth $41,876,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Atomi Financial Group Inc. bought a new stake in Corteva during the third quarter valued at about $253,000. Wedmont Private Capital purchased a new position in Corteva in the third quarter worth about $232,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in Corteva by 537.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,965 shares of the company's stock worth $174,000 after acquiring an additional 2,500 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Corteva by 7.4% during the third quarter. Valeo Financial Advisors LLC now owns 9,592 shares of the company's stock valued at $564,000 after buying an additional 659 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Corteva by 1,058.7% during the third quarter. Exchange Traded Concepts LLC now owns 2,329 shares of the company's stock valued at $137,000 after buying an additional 2,128 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CTVA shares. Wells Fargo & Company boosted their target price on Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock 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 stock a "buy" rating in a research report on Tuesday. Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Citigroup upped their target price on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Corteva presently has a consensus rating of "Moderate Buy" and an average price target of $67.73.

Corteva Price Performance

Shares of CTVA stock traded up $1.14 during mid-day trading on Friday, hitting $64.00. 3,906,167 shares of the stock were exchanged, compared to its average volume of 3,703,869. The firm has a fifty day moving average of $60.30 and a 200 day moving average of $58.41. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a market cap of $43.99 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA - Get Free Report) last posted 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 return on equity of 7.19% and a net margin of 5.36%. Research analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. Corteva's dividend payout ratio (DPR) is presently 52.71%.

Corteva announced that its board has approved a share buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

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.