Corteva, Inc. (NYSE:CTVA) Shares Purchased by Dearborn Partners LLC

Dearborn Partners LLC boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 5,353.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 547,230 shares of the company's stock after acquiring an additional 537,196 shares during the quarter. Dearborn Partners LLC owned 0.08% of Corteva worth $31,170,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CTVA. Davis R M Inc. raised its position in shares of Corteva by 11.4% in the 4th quarter. Davis R M Inc. now owns 5,389 shares of the company's stock worth $307,000 after acquiring an additional 550 shares in the last quarter. Independent Advisor Alliance raised its position in shares of Corteva by 31.1% in the 4th quarter. Independent Advisor Alliance now owns 10,307 shares of the company's stock worth $587,000 after acquiring an additional 2,445 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Corteva by 2.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 110,829 shares of the company's stock worth $6,313,000 after acquiring an additional 3,019 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Corteva by 20.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 46,292 shares of the company's stock worth $2,637,000 after acquiring an additional 7,835 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Corteva by 155.3% in the 4th quarter. Larson Financial Group LLC now owns 17,762 shares of the company's stock worth $1,012,000 after acquiring an additional 10,805 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Remove Ads

Corteva Trading Up 2.2 %

Shares of CTVA traded up $1.31 during midday trading on Friday, hitting $59.90. 2,987,577 shares of the stock were exchanged, compared to its average volume of 3,058,323. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The stock has a fifty day simple moving average of $61.88 and a 200 day simple moving average of $59.63. The firm has a market cap of $41.06 billion, a P/E ratio of 46.43, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results 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 return on equity of 7.19% and a net margin of 5.36%. On average, research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its board has approved a share buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. Corteva's dividend payout ratio (DPR) is presently 52.71%.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated 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 completion of the sale, the insider now directly 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 filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTVA. Wells Fargo & Company upped 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. Oppenheimer increased their price objective on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, February 7th. 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 increased their price objective on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, BNP Paribas raised Corteva to a "hold" rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $68.00.

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.