Corteva, Inc. (NYSE:CTVA) Insider Sells $1,692,934.40 in Stock

Corteva, Inc. (NYSE:CTVA) insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on 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 of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Corteva Trading Down 0.3 %

CTVA traded down $0.17 during trading on Monday, reaching $62.59. 3,005,092 shares of the company’s stock were exchanged, compared to its average volume of 3,552,174. The company’s fifty day moving average price is $60.81 and its 200-day moving average price is $58.93. The firm has a market capitalization of $42.91 billion, a PE ratio of 48.52, a P/E/G ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA) last posted its quarterly earnings results 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%. As a group, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend 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 presently 52.71%.

Corteva declared that its board has authorized a stock 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 board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CTVA shares. KeyCorp lifted their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group cut their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada lifted their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $67.73.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in shares of Corteva during the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new stake in Corteva during the 4th quarter worth $26,000. Hager Investment Management Services LLC acquired a new position in Corteva in the fourth quarter valued at about $27,000. Pinney & Scofield Inc. acquired a new position in Corteva in the fourth quarter valued at about $27,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of Corteva in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.