Larson Financial Group LLC Grows Holdings in Corteva, Inc. (NYSE:CTVA)

Larson Financial Group LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 155.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,762 shares of the company’s stock after purchasing an additional 10,805 shares during the quarter. Larson Financial Group LLC’s holdings in Corteva were worth $1,012,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Corteva during the fourth quarter worth about $161,052,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Corteva in the 3rd quarter worth approximately $99,869,000. Franklin Resources Inc. grew its holdings in Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after buying an additional 856,007 shares in the last quarter. KBC Group NV raised its position in shares of 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 buying an additional 815,135 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Corteva by 2.3% in the third 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. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Down 0.4 %

CTVA stock opened at $60.62 on Monday. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The stock has a market capitalization of $41.56 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $61.66 and its two-hundred day simple moving average is $59.57.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS 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, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Corteva announced that its board has authorized a stock buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CTVA shares. UBS Group cut their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Oppenheimer raised their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company boosted 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. Bank of America increased their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, KeyCorp lifted their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $67.79.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated 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 completion of the sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

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.