Legal & General Group Plc lessened its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,274,694 shares of the company's stock after selling 1,303,595 shares during the quarter. Legal & General Group Plc owned 0.77% of Corteva worth $300,447,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva in the 4th quarter worth approximately $25,000. Noble Wealth Management PBC bought a new stake in Corteva in the fourth quarter worth $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva during the fourth quarter valued at about $27,000. Golden State Wealth Management LLC bought a new position in shares of Corteva during the fourth quarter valued at about $32,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Corteva in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 81.54% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Oppenheimer raised their price target on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. BNP Paribas raised shares of Corteva to a "hold" rating in a research note on Monday, February 10th. Citigroup increased their price target on shares of Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. UBS Group decreased their price objective on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Finally, KeyCorp increased their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and an average target price of $68.06.
Read Our Latest Research Report on CTVA
Insider Activity
In other news, insider Brian Titus sold 26,560 shares of the 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 in the company, 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 SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company's stock.
Corteva Stock Up 2.3 %
Shares of NYSE:CTVA traded up $1.33 during midday trading on Friday, reaching $59.27. The company's stock had a trading volume of 3,067,223 shares, compared to its average volume of 3,306,914. 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 firm has a 50 day moving average of $61.27 and a 200-day moving average of $60.25. The firm has a market capitalization of $40.48 billion, a P/E ratio of 45.95, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.
Corteva (NYSE:CTVA - Get Free Report) last announced its 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, research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.
Corteva Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. Corteva's dividend payout ratio is currently 52.71%.
Corteva Company Profile
(
Free Report)
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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