Orion Portfolio Solutions LLC Acquires 4,498 Shares of Corteva, Inc. (NYSE:CTVA)

Orion Portfolio Solutions LLC lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,575 shares of the company’s stock after acquiring an additional 4,498 shares during the period. Orion Portfolio Solutions LLC’s holdings in Corteva were worth $1,343,000 at the end of the most recent quarter.

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

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Trading Down 9.2 %

NYSE CTVA opened at $55.66 on Friday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a 50 day moving average price of $62.36 and a 200 day moving average price of $60.26. 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 firm has a market cap of $38.02 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last issued its quarterly 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, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Barclays boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Monday, March 31st. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Citigroup raised their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.06.

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.