Summit Global Investments Makes New $208,000 Investment in Corteva, Inc. (NYSE:CTVA)

Summit Global Investments bought a new position in Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,656 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its holdings in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after buying an additional 156 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in shares of Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC grew its stake in shares of Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after acquiring an additional 158 shares during the period. Lake Street Advisors Group LLC grew its position in Corteva by 3.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares during the period. Finally, Roble Belko & Company Inc lifted its holdings in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after acquiring an additional 166 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup upped 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. KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Wells Fargo & Company upped their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, Bank of America increased their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.3 %

Shares of Corteva stock opened at $61.91 on Wednesday. The company has a market cap of $42.44 billion, a P/E ratio of 47.99, a PEG ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The firm has a fifty day moving average of $62.50 and a two-hundred day moving average of $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.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 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%. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business 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. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

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.