Westover Capital Advisors LLC Acquires New Holdings in Corteva, Inc. (NYSE:CTVA)

Westover Capital Advisors LLC acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 16,336 shares of the company's stock, valued at approximately $930,000.

A number of other hedge funds also recently made changes to their positions in CTVA. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Corteva in the third quarter valued at about $99,869,000. Franklin Resources Inc. raised its stake in Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock valued at $860,746,000 after purchasing an additional 856,007 shares during the period. KBC Group NV lifted its holdings in Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company's stock worth $65,851,000 after purchasing an additional 815,135 shares in the last quarter. State Street Corp boosted its stake in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company's stock worth $2,015,914,000 after purchasing an additional 768,519 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Corteva by 176.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company's stock valued at $54,954,000 after buying an additional 596,073 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CTVA shares. Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. UBS Group dropped their price objective on shares of Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. Barclays raised their price objective on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, KeyCorp raised their price target on Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.79.

Corteva Trading Up 2.3 %

Shares of CTVA traded up $1.37 during midday trading on Wednesday, hitting $61.17. The stock had a trading volume of 3,780,519 shares, compared to its average volume of 3,526,699. The stock's 50 day moving average is $61.45 and its 200 day moving average is $59.42. The firm has a market cap of $41.94 billion, a PE ratio of 47.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last posted 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 return on equity of 7.19% and a net margin of 5.36%. As a group, analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

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

Corteva Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's payout ratio is currently 52.71%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

About Corteva

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.