Vanguard Group Inc. Buys 646,459 Shares of Corteva, Inc. (NYSE:CTVA)

Vanguard Group Inc. boosted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,174,847 shares of the company's stock after buying an additional 646,459 shares during the quarter. Vanguard Group Inc. owned approximately 11.52% of Corteva worth $4,509,799,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CTVA. Prospera Financial Services Inc grew its position in shares of Corteva by 3.5% in the 3rd quarter. Prospera Financial Services Inc now owns 6,687 shares of the company's stock valued at $393,000 after buying an additional 226 shares during the last quarter. Great Valley Advisor Group Inc. bought a new stake in Corteva in the third quarter valued at approximately $203,000. Cerity Partners LLC increased its position in Corteva by 28.0% during the 3rd quarter. Cerity Partners LLC now owns 232,664 shares of the company's stock valued at $13,678,000 after purchasing an additional 50,837 shares during the period. Kingsview Wealth Management LLC raised its holdings in Corteva by 468.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company's stock worth $2,656,000 after purchasing an additional 37,239 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of Corteva by 18.0% in the 3rd quarter. Swedbank AB now owns 457,877 shares of the company's stock worth $26,919,000 after purchasing an additional 69,782 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

Corteva Stock Down 0.1 %

Shares of CTVA stock traded down $0.04 during trading hours on Thursday, reaching $62.66. The company had a trading volume of 578,281 shares, compared to its average volume of 3,486,215. The business has a fifty day simple moving average of $62.54 and a 200-day simple moving average of $60.01. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a market cap of $42.96 billion, a price-to-earnings ratio of 48.58, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

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%. On average, research analysts expect 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. Shareholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, March 3rd. Corteva's dividend payout ratio is 52.71%.

Analyst Ratings Changes

Several research firms recently issued reports on CTVA. Citigroup boosted their target price on shares of Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their target price on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. KeyCorp lifted their target price on Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Wells Fargo & Company increased their price target on Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Corteva in a research note on Thursday, March 13th. They set a "buy" rating and a $71.00 target price on the stock. One investment 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.00.

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.