Larson Financial Group LLC Buys 10,805 Shares of Corteva, Inc. (NYSE:CTVA)

Larson Financial Group LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 155.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,762 shares of the company's stock after buying an additional 10,805 shares during the period. Larson Financial Group LLC's holdings in Corteva were worth $1,012,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Edgestream Partners L.P. acquired a new stake in Corteva during the fourth quarter valued at approximately $2,006,000. Ashton Thomas Private Wealth LLC bought a new stake in Corteva during the fourth quarter worth about $413,000. Callan Family Office LLC acquired a new position in shares of Corteva during the 4th quarter worth approximately $669,000. Candriam S.C.A. grew its holdings in Corteva by 14.4% in the 4th quarter. Candriam S.C.A. now owns 33,520 shares of the company's stock valued at $1,909,000 after buying an additional 4,224 shares in the last quarter. Finally, Ethos Financial Group LLC bought a new position in Corteva in the 4th quarter valued at about $158,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company's stock.

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Corteva Stock Down 0.8 %

Corteva stock traded down $0.49 during mid-day trading on Thursday, hitting $58.51. 3,303,964 shares of the company's stock were exchanged, compared to its average volume of 3,579,386. The stock has a 50 day moving average of $61.84 and a two-hundred day moving average of $59.63. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The stock has a market cap of $40.11 billion, a P/E ratio of 45.36, a P/E/G ratio of 1.68 and a beta of 0.79.

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

Corteva declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Monday, March 3rd. Corteva's dividend payout ratio is currently 52.71%.

Analyst Ratings Changes

A number of analysts have weighed in on CTVA shares. Oppenheimer increased their price target on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Wells Fargo & Company upped their target price on Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group started coverage on Corteva in a research report on Thursday. They issued a "buy" rating and a $71.00 price objective for the company. KeyCorp raised their price objective on Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Bank of America boosted their price target on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Corteva has a consensus rating of "Moderate Buy" and an average price target of $68.00.

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.