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

Guyasuta Investment Advisors Inc. increased its stake in Corteva, Inc. (NYSE:CTVA) by 6.8% during the 4th quarter, Holdings Channel reports. The fund owned 3,752 shares of the company’s stock after purchasing 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 hedge funds have also modified their holdings of the stock. Nations Financial Group Inc. IA ADV raised its stake in shares of Corteva by 7.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 7,125 shares of the company’s stock valued at $406,000 after acquiring an additional 517 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Corteva by 2.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,849 shares of the company’s stock valued at $561,000 after buying an additional 257 shares during the last quarter. Asset Planning Inc purchased a new position in Corteva in the fourth quarter valued at $130,000. V Square Quantitative Management LLC increased its holdings in Corteva by 4.5% in the fourth quarter. V Square Quantitative Management LLC now owns 5,218 shares of the company’s stock valued at $297,000 after buying an additional 227 shares during the last quarter. Finally, Bogart Wealth LLC increased its holdings in Corteva by 59.4% in the fourth quarter. Bogart Wealth LLC now owns 1,828 shares of the company’s stock valued at $104,000 after buying an additional 681 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of CTVA opened at $64.00 on Friday. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The company has a market capitalization of $43.99 billion, a price-to-earnings ratio of 49.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78. The firm has a 50-day simple moving average of $60.39 and a 200-day simple moving average of $58.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. On average, equities research analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

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

Corteva announced that its Board of Directors has approved a share buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. KeyCorp increased their target price on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Citigroup increased their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. UBS Group dropped their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

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.