King Luther Capital Management Corp Buys 5,582 Shares of Corteva, Inc. (NYSE:CTVA)

King Luther Capital Management Corp boosted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 456,262 shares of the company's stock after purchasing an additional 5,582 shares during the period. King Luther Capital Management Corp owned about 0.07% of Corteva worth $25,989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Noble Wealth Management PBC bought a new stake in shares of Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new stake in Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Corteva during the fourth quarter worth $32,000. Centricity Wealth Management LLC bought a new position in shares of Corteva in the fourth quarter worth $34,000. Finally, First Financial Corp IN purchased a new position in shares of Corteva in the fourth quarter valued at $35,000. 81.54% of the stock is owned by institutional investors.

Corteva Trading Down 0.4 %

NYSE CTVA opened at $59.98 on Wednesday. The stock's 50-day simple moving average is $61.79 and its two-hundred day simple moving average is $59.64. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $41.12 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 1.68 and a beta of 0.79.

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Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data 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%. Research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

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

Corteva Announces Dividend

The firm 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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's dividend payout ratio is currently 52.71%.

Insider Activity at Corteva

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 stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CTVA shares. KeyCorp increased their price objective on Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Oppenheimer increased their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Wells Fargo & Company boosted their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. UBS Group lowered their target price on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, BNP Paribas raised shares of Corteva to a "hold" rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and an average target price of $67.79.

Corteva 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.

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