Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 435 Shares of Corteva, Inc. (NYSE:CTVA)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in Corteva, Inc. (NYSE:CTVA) by 2.7% during the 4th quarter, Holdings Channel reports. The fund owned 15,409 shares of the company’s stock after selling 435 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Corteva were worth $878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CTVA. Hager Investment Management Services LLC purchased a new stake in Corteva in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new position in shares of Corteva in the fourth quarter worth approximately $32,000. Capital Advisors Ltd. LLC increased its stake in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares in the last quarter. First Financial Corp IN bought a new stake in shares of Corteva during the 4th quarter valued at $35,000. Finally, Albion Financial Group UT lifted its stake in shares of Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.1 %

Shares of NYSE CTVA opened at $62.32 on Monday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.96. The business’s 50 day moving average is $60.22 and its two-hundred day moving average is $58.22. The stock has a market capitalization of $42.83 billion, a P/E ratio of 48.31, a PEG ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, research analysts expect that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CTVA shares. Royal Bank of Canada increased their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup increased their target price on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Oppenheimer increased their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday. Finally, KeyCorp boosted 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $67.31.

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.