Ostrum Asset Management Cuts Stock Position in Corteva, Inc. (NYSE:CTVA)

Ostrum Asset Management reduced its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 467,865 shares of the company's stock after selling 7,835 shares during the quarter. Corteva accounts for approximately 2.3% of Ostrum Asset Management's portfolio, making the stock its 22nd largest holding. Ostrum Asset Management owned about 0.07% of Corteva worth $26,650,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in Corteva during the 4th quarter valued at about $25,000. Noble Wealth Management PBC bought a new stake in Corteva in the fourth quarter valued at $26,000. Hager Investment Management Services LLC bought a new position in Corteva in the 4th quarter worth $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva during the 4th quarter valued at about $32,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Corteva during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Insider Activity

In other Corteva news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction on 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 sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTVA. UBS Group decreased their target price on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays lifted their price target on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a report on Monday, March 31st. Finally, Wells Fargo & Company lifted their target price on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $68.13.

Corteva Stock Performance

NYSE:CTVA traded down $0.21 during mid-day trading on Friday, hitting $61.50. 1,803,138 shares of the company traded hands, compared to its average volume of 3,321,572. The stock's fifty day moving average price is $60.71 and its 200-day moving average price is $60.38. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The firm has a market cap of $42.01 billion, a price-to-earnings ratio of 47.67, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA - Get Free Report) last released its 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 return on equity of 7.19% and a net margin of 5.36%. Research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. Corteva's payout ratio is presently 52.71%.

Corteva Company 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.