Corteva, Inc. (NYSE:CTVA) Shares Acquired by Guyasuta Investment Advisors Inc.

Guyasuta Investment Advisors Inc. grew its stake in Corteva, Inc. (NYSE:CTVA) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,752 shares of the company’s stock after buying an additional 240 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Corteva were worth $214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp increased its stake in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares in the last quarter. Geode Capital Management LLC increased its stake in Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after buying an additional 355,206 shares in the last quarter. Franklin Resources Inc. increased its stake in Corteva by 6.1% during the 3rd 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. Harris Associates L P increased its stake in Corteva by 1.4% during the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after buying an additional 200,917 shares in the last quarter. Finally, FMR LLC increased its stake in Corteva by 1.9% during the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after buying an additional 203,126 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.8 %

CTVA opened at $64.00 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. The business’s 50 day moving average price is $60.39 and its 200 day moving average price is $58.47. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The stock has a market capitalization of $43.99 billion, a PE ratio of 49.61, a P/E/G ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly 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, equities research analysts expect that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva declared that its board has approved a share repurchase program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. UBS Group dropped their price target on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Citigroup upped their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.73.

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.