Envestnet Asset Management Inc. Acquires 597,739 Shares of Corteva, Inc. (NYSE:CTVA)

Envestnet Asset Management Inc. lifted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 36.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,215,926 shares of the company's stock after buying an additional 597,739 shares during the quarter. Envestnet Asset Management Inc. owned about 0.32% of Corteva worth $126,219,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock valued at $4,509,799,000 after purchasing an additional 646,459 shares during the last quarter. Geode Capital Management LLC lifted its position in Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company's stock valued at $1,037,505,000 after purchasing an additional 355,206 shares during the period. Franklin Resources Inc. boosted its stake in shares of Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock valued at $537,031,000 after acquiring an additional 525,531 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Corteva by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,691,738 shares of the company's stock worth $267,241,000 after purchasing an additional 167,742 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

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Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated 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 $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction 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 corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup lifted their price objective on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group began 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. UBS Group dropped their price objective on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, January 10th. BNP Paribas raised Corteva to a "hold" rating in a research report on Monday, February 10th. Finally, Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $68.06.

Corteva Price Performance

Corteva stock traded up $1.33 during mid-day trading on Friday, hitting $59.27. 3,067,223 shares of the company traded hands, compared to its average volume of 3,306,914. The stock has a fifty day moving average price of $61.27 and a 200-day moving average price of $60.25. The stock has a market cap of $40.48 billion, a price-to-earnings ratio of 45.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. 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 earnings per share 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%. On average, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Monday, March 3rd. Corteva's payout ratio is 52.71%.

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.