Corteva, Inc. (NYSE:CTVA) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 987,621 shares of the company’s stock after selling 13,569 shares during the quarter. Bank of Montreal Can’s holdings in Corteva were worth $56,255,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva in the 4th quarter worth $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva in the 4th quarter worth $26,000. Hager Investment Management Services LLC acquired a new position in shares of Corteva in the 4th quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter worth $32,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter worth $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Corteva Price Performance

Shares of NYSE:CTVA opened at $58.70 on Thursday. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The business has a 50-day moving average of $61.53 and a two-hundred day moving average of $60.23. The stock has a market capitalization of $40.09 billion, a P/E ratio of 45.50, a P/E/G ratio of 1.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last announced 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 return on equity of 7.19% and a net margin of 5.36%. On average, equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. Corteva’s dividend payout ratio is currently 52.71%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent research reports. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Monday, March 31st. Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company lifted their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Oppenheimer lifted their price target on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.