Intech Investment Management LLC Boosts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Intech Investment Management LLC raised its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 254.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,832 shares of the company's stock after purchasing an additional 20,699 shares during the quarter. Intech Investment Management LLC's holdings in Corteva were worth $1,642,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC bought a new stake in Corteva during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new stake in Corteva in the fourth quarter valued at $26,000. Hager Investment Management Services LLC bought a new position in Corteva during the 4th quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in shares of Corteva in the fourth quarter worth approximately $32,000. Finally, Centricity Wealth Management LLC bought a new stake in Corteva in the fourth quarter valued at approximately $34,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Down 0.3 %

CTVA traded down $0.16 during mid-day trading on Tuesday, reaching $61.91. 2,565,179 shares of the stock were exchanged, compared to its average volume of 3,048,874. Corteva, Inc. has a 1 year low of $50.01 and a 1 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. The stock has a market capitalization of $42.44 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a 50 day moving average price of $62.50 and a two-hundred day moving average price of $59.99.

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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 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%. As a group, research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's dividend payout ratio is presently 52.71%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CTVA shares. KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. 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. Barclays lifted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. The Goldman Sachs Group began coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Corteva presently has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is owned by 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.