Congress Wealth Management LLC DE Has $6.22 Million Stake in Corteva, Inc. (NYSE:CTVA)

Congress Wealth Management LLC DE increased its stake in Corteva, Inc. (NYSE:CTVA) by 2.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 109,264 shares of the company’s stock after purchasing an additional 2,584 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Corteva were worth $6,224,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth about $25,000. Noble Wealth Management PBC bought a new position in Corteva in the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva in the fourth quarter valued at approximately $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter worth $34,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.3 %

Shares of CTVA opened at $61.91 on Wednesday. The firm’s 50-day simple moving average is $62.50 and its 200 day simple moving average is $59.99. 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 firm has a market cap of $42.44 billion, a P/E ratio of 47.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24.

Corteva (NYSE:CTVA) last released 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 forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.10%. Corteva’s dividend payout ratio is 52.71%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CTVA. Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. KeyCorp raised their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. 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 for the company. Finally, Oppenheimer lifted their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

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.