Modern Wealth Management LLC Increases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Modern Wealth Management LLC increased its stake in Corteva, Inc. (NYSE:CTVA) by 33.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,775 shares of the company’s stock after acquiring an additional 1,440 shares during the quarter. Modern Wealth Management LLC’s holdings in Corteva were worth $359,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. acquired a new position in shares of Corteva during the 3rd quarter worth about $203,000. Fisher Asset Management LLC increased its stake in Corteva by 12.9% during the 3rd quarter. Fisher Asset Management LLC now owns 9,043 shares of the company’s stock worth $532,000 after buying an additional 1,030 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Corteva by 7.7% during the third quarter. Independent Advisor Alliance now owns 7,862 shares of the company’s stock valued at $462,000 after acquiring an additional 565 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Corteva by 10.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,279,230 shares of the company’s stock valued at $75,205,000 after acquiring an additional 126,090 shares in the last quarter. Finally, FMR LLC increased its position in shares of Corteva by 1.9% during the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after purchasing an additional 203,126 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the 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 sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CTVA shares. The Goldman Sachs Group assumed coverage on shares of Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 target price on the stock. UBS Group dropped their price objective 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. Bank of America raised their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company lifted their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Corteva Stock Down 0.3 %

Shares of NYSE:CTVA opened at $62.54 on Friday. The company has a market capitalization of $42.88 billion, a price-to-earnings ratio of 48.48, a PEG ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The business has a 50-day moving average price of $62.56 and a 200 day moving average price of $60.03. 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 expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

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.