Leo Wealth LLC Has $454,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Leo Wealth LLC lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,969 shares of the company’s stock after purchasing an additional 454 shares during the quarter. Leo Wealth LLC’s holdings in Corteva were worth $454,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bleakley Financial Group LLC grew its position in shares of Corteva by 4.9% during the 4th quarter. Bleakley Financial Group LLC now owns 12,676 shares of the company’s stock worth $722,000 after buying an additional 597 shares during the period. Tyche Wealth Partners LLC bought a new stake in shares of Corteva in the fourth quarter worth about $685,000. Econ Financial Services Corp acquired a new stake in Corteva during the 4th quarter worth approximately $641,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Corteva by 46.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,425 shares of the company’s stock valued at $3,399,000 after acquiring an additional 18,984 shares in the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in shares of Corteva during the fourth quarter worth about $27,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Bank of America boosted their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays boosted their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Citigroup boosted their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, KeyCorp increased their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday. One investment 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 MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target of $67.31.

Corteva Stock Performance

Shares of CTVA opened at $62.32 on Friday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The stock has a 50-day simple moving average of $60.22 and a 200-day simple moving average of $58.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $42.83 billion, a PE ratio of 62.95, a PEG ratio of 1.71 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 6.63% and a net margin of 4.18%. On average, analysts predict that Corteva, Inc. will post 2.58 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. Corteva’s dividend payout ratio (DPR) is 68.69%.

Corteva announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.