Orion Portfolio Solutions LLC Grows Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Orion Portfolio Solutions LLC raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,575 shares of the company’s stock after buying an additional 4,498 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Corteva were worth $1,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after acquiring an additional 646,459 shares in the last quarter. State Street Corp lifted its holdings in shares of Corteva by 2.3% during the third 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Corteva by 2.0% during the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after buying an additional 355,206 shares during the last quarter. Franklin Resources Inc. increased its holdings in Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after buying an additional 525,531 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Down 9.2 %

Shares of CTVA stock opened at $55.66 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a fifty day simple moving average of $62.36 and a two-hundred day simple moving average of $60.26. The firm has a market capitalization of $38.02 billion, a PE ratio of 43.15, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA) last issued its 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 net margin of 5.36% and a return on equity of 7.19%. On average, analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. Corteva’s dividend payout ratio is 52.71%.

Analyst Ratings Changes

CTVA has been the topic of a number of recent analyst reports. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, March 31st. Oppenheimer increased their price target on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada lifted their price objective on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup increased their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by corporate 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.