Insider Selling: Corteva, Inc. (NYSE:CTVA) Insider Sells 26,560 Shares of Stock

Corteva, Inc. (NYSE:CTVA) 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 value of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Corteva Price Performance

CTVA stock opened at $62.59 on Tuesday. The company has a market cap of $42.91 billion, a PE ratio of 48.52, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $60.88 and a two-hundred day moving average price of $59.01. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.

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

Corteva declared that its board has authorized 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Institutional Trading of Corteva

A number of institutional investors have recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva during the 4th quarter valued at about $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva during the fourth quarter worth about $26,000. Hager Investment Management Services LLC acquired a new position in shares of Corteva in the fourth quarter worth about $27,000. Pinney & Scofield Inc. purchased a new position in Corteva in the fourth quarter valued at about $27,000. Finally, LGT Financial Advisors LLC acquired a new stake in Corteva during the 4th quarter valued at approximately $31,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CTVA. Citigroup boosted their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. Finally, KeyCorp raised their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

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.