HighPoint Advisor Group LLC Increases Holdings in Corteva, Inc. (NYSE:CTVA)

HighPoint Advisor Group LLC grew its holdings in Corteva, Inc. (NYSE:CTVA) by 7.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,057 shares of the company’s stock after acquiring an additional 1,058 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Corteva were worth $948,000 at the end of the most recent reporting period.

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

Corteva Price Performance

Shares of NYSE:CTVA opened at $63.54 on Wednesday. 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 $43.40 billion, a price-to-earnings ratio of 49.26, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The business’s 50 day simple moving average is $62.56 and its 200-day simple moving average is $60.23. 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 (NYSE:CTVA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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, equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTVA. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Wells Fargo & Company lifted their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Monday. Finally, The Goldman Sachs Group started coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.06.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s 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 directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently 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.