Machina Capital S.A.S. Sells 10,762 Shares of Corteva, Inc. (NYSE:CTVA)

Machina Capital S.A.S. reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 74.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,636 shares of the company’s stock after selling 10,762 shares during the quarter. Machina Capital S.A.S.’s holdings in Corteva were worth $207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CTVA. Farther Finance Advisors LLC increased its stake in Corteva by 26.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,210 shares of the company’s stock valued at $248,000 after purchasing an additional 881 shares in the last quarter. Equitable Trust Co. increased its stake in Corteva by 96.6% during the 3rd quarter. Equitable Trust Co. now owns 9,812 shares of the company’s stock valued at $577,000 after purchasing an additional 4,822 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Corteva during the 3rd quarter valued at about $273,000. SpiderRock Advisors LLC boosted its holdings in shares of Corteva by 1.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 37,146 shares of the company’s stock valued at $2,184,000 after acquiring an additional 687 shares during the last quarter. Finally, Klingman & Associates LLC purchased a new stake in shares of Corteva during the 3rd quarter valued at about $239,000. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTVA. Bank of America raised their price target on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Oppenheimer raised their price target on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company raised their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, KeyCorp raised their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $67.79.

Corteva Price Performance

NYSE CTVA opened at $60.62 on Monday. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market cap of $41.56 billion, a price-to-earnings ratio of 46.99, a PEG ratio of 1.68 and a beta of 0.79. The company’s 50 day moving average is $61.66 and its two-hundred day moving average is $59.57. 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 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%. As a group, research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Corteva announced that its board has initiated a stock repurchase plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

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

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.