CenterBook Partners LP Has $1.42 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

CenterBook Partners LP lessened its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 45.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,972 shares of the company's stock after selling 21,007 shares during the period. CenterBook Partners LP's holdings in Corteva were worth $1,422,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CTVA. Vanguard Group Inc. increased its holdings 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 during the last quarter. Geode Capital Management LLC grew its stake in shares of Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company's stock worth $1,037,505,000 after acquiring an additional 355,206 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after acquiring an additional 1,354,418 shares during the period. Invesco Ltd. grew its position in Corteva by 2.4% during the fourth quarter. Invesco Ltd. now owns 11,074,633 shares of the company's stock valued at $630,811,000 after buying an additional 264,531 shares during the period. Finally, Van ECK Associates Corp raised its stake in Corteva by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after acquiring an additional 525,531 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTVA. UBS Group dropped their target price on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Bank of America increased their price target on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Citigroup boosted their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, BNP Paribas upgraded Corteva to a "hold" rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and an average target price of $68.13.

Corteva Price Performance

CTVA traded up $0.23 during trading on Wednesday, hitting $59.93. 1,111,020 shares of the company traded hands, compared to its average volume of 3,290,266. The company has a market cap of $40.93 billion, a PE ratio of 46.46, a P/E/G ratio of 1.68 and a beta of 0.73. 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's 50-day simple moving average is $61.15 and its two-hundred day simple moving average is $60.27. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last posted its 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%. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. Corteva's dividend payout ratio (DPR) is 52.71%.

Insider Buying and Selling 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 transaction of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company's stock, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.