Hager Investment Management Services LLC Purchases Shares of 478 Corteva, Inc. (NYSE:CTVA)

Hager Investment Management Services LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 4th quarter, HoldingsChannel reports. The fund acquired 478 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds also recently modified their holdings of the company. Capital Advisors Ltd. LLC increased its holdings in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares in the last quarter. First Financial Corp IN bought a new stake in Corteva during the 4th quarter valued at $35,000. Albion Financial Group UT raised its holdings in Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in shares of Corteva by 159.6% in the fourth quarter. Brown Lisle Cummings Inc. now owns 732 shares of the company’s stock valued at $42,000 after buying an additional 450 shares in the last quarter. Finally, Bangor Savings Bank grew its holdings in shares of Corteva by 34.7% during the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after buying an additional 241 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CTVA shares. Bank of America raised their price target on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. UBS Group dropped their price target 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. Wells Fargo & Company lifted 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 cut their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Finally, Citigroup lifted their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.06.

Corteva Price Performance

Shares of NYSE:CTVA opened at $63.62 on Thursday. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm has a market capitalization of $43.72 billion, a P/E ratio of 64.26, a P/E/G ratio of 1.71 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The company’s fifty day moving average price is $60.20 and its 200 day moving average price is $58.07.

Corteva (NYSE:CTVA) last posted its earnings results 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 net margin of 4.18% and a return on equity of 6.63%. As a group, sell-side analysts predict that Corteva, Inc. will post 2.58 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is presently 68.69%.

Corteva announced that its Board of Directors has approved a stock buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.