Centricity Wealth Management LLC Buys Shares of 594 Corteva, Inc. (NYSE:CTVA)

Centricity Wealth Management LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 594 shares of the company’s stock, valued at approximately $34,000.

Several other large investors also recently added to or reduced their stakes in CTVA. KBC Group NV boosted its position in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares during the period. Oak Thistle LLC bought a new position in Corteva in the 4th quarter worth approximately $1,514,000. Charles Schwab Investment Management Inc. grew its stake in Corteva by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after buying an additional 66,052 shares in the last quarter. Van ECK Associates Corp raised its holdings in Corteva by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after acquiring an additional 525,531 shares during the period. Finally, Swedbank AB lifted its position in shares of Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after acquiring an additional 237,764 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 1.7 %

CTVA opened at $62.75 on Friday. The business’s fifty day simple moving average is $60.81 and its 200 day simple moving average is $58.82. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. 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 stock has a market cap of $43.02 billion, a PE ratio of 48.64, a P/E/G ratio of 1.67 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva announced that its Board of Directors has initiated a share buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. KeyCorp upped 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 raised their price objective 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. Oppenheimer boosted their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, UBS Group lowered their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. One equities research 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. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $67.73.

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.