V Square Quantitative Management LLC Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

V Square Quantitative Management LLC grew its stake in Corteva, Inc. (NYSE:CTVA) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,218 shares of the company’s stock after purchasing an additional 227 shares during the period. V Square Quantitative Management LLC’s holdings in Corteva were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Bogart Wealth LLC grew its position in Corteva by 59.4% in the fourth quarter. Bogart Wealth LLC now owns 1,828 shares of the company’s stock worth $104,000 after acquiring an additional 681 shares during the period. Avestar Capital LLC purchased a new position in Corteva in the fourth quarter worth approximately $220,000. MFG Wealth Management Inc. purchased a new position in Corteva in the fourth quarter worth approximately $986,000. Naples Global Advisors LLC grew its position in Corteva by 0.4% in the fourth quarter. Naples Global Advisors LLC now owns 91,098 shares of the company’s stock worth $5,189,000 after acquiring an additional 356 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after purchasing an additional 525,531 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CTVA. UBS Group decreased their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Citigroup upped their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $67.73.

Corteva Stock Up 1.8 %

Corteva stock opened at $64.00 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 stock has a market cap of $43.99 billion, a PE ratio of 49.61, a P/E/G ratio of 1.85 and a beta of 0.78. The stock’s fifty day moving average is $60.39 and its two-hundred day moving average is $58.49.

Corteva (NYSE:CTVA) last posted its quarterly earnings results 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 net margin of 5.36% and a return on equity of 7.19%. On average, sell-side analysts expect that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Announces Dividend

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 given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Corteva announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Corteva 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.