LPL Financial LLC Acquires 129,836 Shares of Corteva, Inc. (NYSE:CTVA)

LPL Financial LLC boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 24.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 667,511 shares of the company’s stock after purchasing an additional 129,836 shares during the quarter. LPL Financial LLC owned 0.10% of Corteva worth $38,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new stake in shares of Corteva during the 4th quarter valued at $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva during the 4th quarter worth $27,000. Golden State Wealth Management LLC bought a new position in shares of Corteva in the fourth quarter worth $32,000. Finally, Centricity Wealth Management LLC bought a new stake in Corteva during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 2.2 %

CTVA opened at $61.08 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The company’s 50 day moving average price is $62.53 and its two-hundred day moving average price is $60.07. The firm has a market capitalization of $41.88 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 1.68 and a beta of 0.79.

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

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. Corteva’s dividend payout ratio (DPR) is 52.71%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have recently commented on CTVA. Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group assumed coverage on Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. KeyCorp lifted their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.