RiverFront Investment Group LLC Increases Stake in Corteva, Inc. (NYSE:CTVA)

RiverFront Investment Group LLC increased its position in Corteva, Inc. (NYSE:CTVA) by 43.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 16,721 shares of the company’s stock after acquiring an additional 5,081 shares during the quarter. RiverFront Investment Group LLC’s holdings in Corteva were worth $952,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CTVA. Norges Bank bought a new position in Corteva in the fourth quarter worth $251,892,000. Raymond James Financial Inc. purchased a new position in shares of Corteva during the 4th quarter worth $161,052,000. Franklin Resources Inc. increased its position in Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares in the last quarter. State Street Corp increased its stake in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Transactions at Corteva

In other Corteva news, 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 owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CTVA. Citigroup boosted their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. KeyCorp increased their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Bank of America lifted their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group assumed coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. Finally, Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Corteva Price Performance

Corteva stock opened at $61.08 on Friday. The company has a market cap of $41.72 billion, a P/E ratio of 47.35, a price-to-earnings-growth 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 business has a fifty day moving average of $62.53 and a two-hundred day moving average of $60.07. 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 earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.