TCW Group Inc. Has $2.71 Million Holdings in Corteva, Inc. (NYSE:CTVA)

TCW Group Inc. lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 41.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 47,632 shares of the company’s stock after selling 33,845 shares during the quarter. TCW Group Inc.’s holdings in Corteva were worth $2,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTVA. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corteva during the 3rd quarter valued at approximately $99,869,000. Franklin Resources Inc. increased its position in Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares during the period. KBC Group NV increased its position in Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after purchasing an additional 815,135 shares during the period. State Street Corp increased its position in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Corteva by 176.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after buying an additional 596,073 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 0.3 %

NYSE CTVA opened at $62.59 on Tuesday. The stock has a market capitalization of $42.91 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business’s fifty day moving average is $60.88 and its 200-day moving average is $59.01.

Corteva (NYSE:CTVA) last released its earnings results 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 return on equity of 7.19% and a net margin of 5.36%. Equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Corteva declared that its board has authorized a share buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on CTVA shares. Wells Fargo & Company raised their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. UBS Group reduced their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Oppenheimer raised their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Bank of America raised their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.73.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

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.