Versor Investments LP Makes New $356,000 Investment in Corteva, Inc. (NYSE:CTVA)

Versor Investments LP acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,247 shares of the company's stock, valued at approximately $356,000.

A number of other large investors have also made changes to their positions in the stock. Proficio Capital Partners LLC purchased a new position in shares of Corteva during the 4th quarter worth $7,564,000. Oppenheimer & Co. Inc. lifted its position in Corteva by 131.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 35,662 shares of the company's stock worth $2,031,000 after buying an additional 20,234 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Corteva by 36.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 28,434 shares of the company's stock valued at $1,620,000 after buying an additional 7,563 shares during the period. Whipplewood Advisors LLC acquired a new position in shares of Corteva during the 4th quarter valued at about $120,000. Finally, Lake Street Advisors Group LLC increased its stake in shares of Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock valued at $257,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Up 2.3 %

Shares of Corteva stock traded up $1.37 during trading hours on Wednesday, hitting $61.17. 3,807,538 shares of the company's stock traded hands, compared to its average volume of 3,566,760. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a market cap of $41.94 billion, a PE ratio of 47.42, a PEG ratio of 1.68 and a beta of 0.79. 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 stock has a 50 day simple moving average of $61.45 and a 200-day simple moving average of $59.42.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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%. Equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva announced that its board has authorized a stock repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. Corteva's dividend payout ratio (DPR) is 52.71%.

Insider Activity at Corteva

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 transaction of $1,692,934.40. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CTVA shares. BNP Paribas upgraded shares of Corteva to a "hold" rating in a report on Monday, February 10th. Citigroup upped their price objective on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. KeyCorp upped their price target on Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Finally, UBS Group decreased their target price on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Corteva has an average rating of "Moderate Buy" and a consensus price target of $67.79.

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.