Erste Asset Management GmbH Sells 800 Shares of Corteva, Inc. (NYSE:CTVA)

Erste Asset Management GmbH lowered its stake in Corteva, Inc. (NYSE:CTVA) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,000 shares of the company’s stock after selling 800 shares during the period. Erste Asset Management GmbH’s holdings in Corteva were worth $744,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Noble Wealth Management PBC bought a new stake in shares of Corteva in the fourth quarter worth $26,000. Hager Investment Management Services LLC bought a new stake in shares of Corteva in the fourth quarter worth $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva in the fourth quarter worth $32,000. Centricity Wealth Management LLC bought a new stake in shares of Corteva in the fourth quarter worth $34,000. Finally, First Financial Corp IN bought a new stake in shares of Corteva in the fourth quarter worth $35,000. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent analyst reports. 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, February 7th. UBS Group lowered their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Bank of America boosted their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Oppenheimer boosted their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, BNP Paribas upgraded shares of Corteva to a “hold” rating in a report on Monday, February 10th. One 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. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Corteva Trading Up 2.2 %

CTVA stock opened at $59.90 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company’s 50-day simple moving average is $61.96 and its 200 day simple moving average is $59.69. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a market capitalization of $41.06 billion, a PE ratio of 46.43, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last posted its quarterly earnings data 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 return on equity of 7.19% and a net margin of 5.36%. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.14%. Corteva’s dividend payout ratio is 52.71%.

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

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the 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 completion of the transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

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.