Cambiar Investors LLC Acquires 32,699 Shares of Corteva, Inc. (NYSE:CTVA)

Cambiar Investors LLC boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 735,180 shares of the company’s stock after purchasing an additional 32,699 shares during the period. Corteva comprises 1.7% of Cambiar Investors LLC’s portfolio, making the stock its 25th biggest holding. Cambiar Investors LLC’s holdings in Corteva were worth $41,876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC bought a new position in Corteva during the fourth quarter worth about $27,000. Golden State Wealth Management LLC bought a new position in Corteva during the fourth quarter worth about $32,000. Capital Advisors Ltd. LLC lifted its stake in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the period. First Financial Corp IN bought a new position in Corteva during the fourth quarter worth about $35,000. Finally, Albion Financial Group UT raised its stake in shares of Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of a number of research analyst reports. Oppenheimer lifted their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp lifted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America lifted their target price on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Citigroup lifted their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday. One 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, Corteva has an average rating of “Moderate Buy” and an average target price of $67.31.

Corteva Price Performance

CTVA opened at $62.20 on Tuesday. The company has a fifty day moving average price of $60.22 and a two-hundred day moving average price of $58.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The firm has a market capitalization of $42.75 billion, a PE ratio of 48.22, a P/E/G ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 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 anticipate that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva announced that its board has approved a share repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is 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.