Wambolt & Associates LLC Has $1.77 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Wambolt & Associates LLC trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 15.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,982 shares of the company’s stock after selling 5,770 shares during the quarter. Wambolt & Associates LLC’s holdings in Corteva were worth $1,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Corteva by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after acquiring an additional 646,459 shares during the last quarter. State Street Corp grew its position in shares of Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares during the period. Geode Capital Management LLC lifted its holdings in Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after buying an additional 355,206 shares during the period. Franklin Resources Inc. boosted its stake in Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after acquiring an additional 856,007 shares during the last quarter. Finally, Harris Associates L P raised its position in shares of Corteva by 1.4% during the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after acquiring an additional 200,917 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $62.12 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average price is $62.48 and its two-hundred day moving average price is $59.95. The company has a market cap of $42.59 billion, a PE ratio of 48.16, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

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, analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CTVA shares. Citigroup raised their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Barclays increased their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. KeyCorp boosted their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. Finally, The Goldman Sachs Group assumed coverage on Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

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.