Corteva, Inc. (NYSE:CTVA) Stock Holdings Boosted by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,952 shares of the company’s stock after purchasing an additional 254 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Corteva were worth $168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTVA. Hager Investment Management Services LLC bought a new position in Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva during the 4th quarter worth $32,000. Centricity Wealth Management LLC bought a new stake in shares of Corteva during the 4th quarter worth $34,000. First Financial Corp IN bought a new stake in shares of Corteva during the 4th quarter worth $35,000. Finally, Albion Financial Group UT boosted its stake in shares of Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

CTVA stock opened at $62.96 on Friday. The company has a fifty day moving average price of $61.34 and a 200-day moving average price of $59.28. The company has a market capitalization of $43.16 billion, a P/E ratio of 48.81, a PEG ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. 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 posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate 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 analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva declared that its board has approved a stock buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction that occurred 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 owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of research analyst reports. BNP Paribas upgraded Corteva to a “hold” rating in a report on Monday, February 10th. Oppenheimer increased their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. KeyCorp raised their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Wells Fargo & Company lifted their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Finally, Bank of America raised their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $67.79.

About Corteva

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.