Canada Pension Plan Investment Board Decreases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Canada Pension Plan Investment Board reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 22.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,207,852 shares of the company's stock after selling 340,900 shares during the period. Canada Pension Plan Investment Board owned approximately 0.18% of Corteva worth $68,799,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new position in Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva during the fourth quarter worth $27,000. Golden State Wealth Management LLC purchased a new position in Corteva in the 4th quarter valued at $32,000. Finally, Centricity Wealth Management LLC purchased a new position in Corteva during the 4th quarter worth $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of NYSE:CTVA traded up $0.68 on Thursday, hitting $61.75. The company had a trading volume of 1,381,398 shares, compared to its average volume of 3,582,864. 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 company has a market cap of $42.18 billion, a PE ratio of 47.89, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The business has a 50 day moving average of $60.82 and a 200 day moving average of $60.32.

Corteva (NYSE:CTVA - Get Free Report) last issued 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, equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, March 3rd. Corteva's dividend payout ratio is currently 52.71%.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction 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 transaction, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on CTVA shares. Oppenheimer increased their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Citigroup increased their target price on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. UBS Group decreased their price target on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada raised their target price on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Bank of America boosted their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.13.

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.