NBT Bank N A NY Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

NBT Bank N A NY trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,180 shares of the company’s stock after selling 322 shares during the period. NBT Bank N A NY’s holdings in Corteva were worth $751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KBC Group NV lifted its holdings in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after purchasing an additional 815,135 shares in the last quarter. Oak Thistle LLC purchased a new position in Corteva during the fourth quarter valued at $1,514,000. Charles Schwab Investment Management Inc. lifted its holdings in Corteva by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after purchasing an additional 66,052 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after purchasing an additional 525,531 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after purchasing an additional 237,764 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Corteva stock opened at $60.23 on Tuesday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The stock has a market cap of $41.29 billion, a P/E ratio of 46.69, a PEG ratio of 1.68 and a beta of 0.79. The company has a 50-day moving average price of $61.73 and a 200 day moving average price of $59.61. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

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 net margin of 5.36% and a return on equity of 7.19%. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

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

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm’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 value 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. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. KeyCorp increased their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Citigroup increased their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, Bank of America increased their target price 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $67.79.

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.