Van ECK Associates Corp increased its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,428,206 shares of the company's stock after acquiring an additional 525,531 shares during the period. Van ECK Associates Corp owned approximately 1.37% of Corteva worth $537,031,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Hager Investment Management Services LLC bought a new position in shares of Corteva in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC bought a new stake in Corteva in the 4th quarter valued at $32,000. Capital Advisors Ltd. LLC grew its holdings in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after purchasing an additional 174 shares during the last quarter. First Financial Corp IN bought a new stake in shares of Corteva in the 4th quarter worth about $35,000. Finally, Albion Financial Group UT lifted its position in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company's stock worth $35,000 after buying an additional 321 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.
Corteva Stock Performance
Shares of CTVA traded up $1.14 during trading hours on Friday, hitting $64.00. The stock had a trading volume of 3,906,167 shares, compared to its average volume of 3,806,061. The firm has a market capitalization of $43.99 billion, a PE ratio of 49.61, a PEG ratio of 1.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.96. The stock has a fifty day moving average price of $60.39 and a 200 day moving average price of $58.49. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24.
Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS 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%. Analysts anticipate that Corteva, Inc. will post 2.83 EPS for the current year.
Corteva Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. 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 payout ratio is 52.71%.
Corteva announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on CTVA. UBS Group cut their price target on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Bank of America raised their price target on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Citigroup lifted their target price on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Finally, BNP Paribas upgraded Corteva to a "hold" rating in a research report on Monday, February 10th. 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 data from MarketBeat, Corteva has an average rating of "Moderate Buy" and a consensus target price of $67.73.
Read Our Latest Analysis on CTVA
Corteva Company Profile
(
Free Report)
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.
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