Corteva, Inc. (NYSE:CTVA) Shares Purchased by Exchange Capital Management Inc.

Exchange Capital Management Inc. boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,337 shares of the company’s stock after acquiring an additional 469 shares during the quarter. Exchange Capital Management Inc.’s holdings in Corteva were worth $3,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corteva during the third quarter worth about $99,869,000. Franklin Resources Inc. increased its holdings in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after buying an additional 856,007 shares in the last quarter. KBC Group NV grew 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 worth $65,851,000 after purchasing an additional 815,135 shares in the last quarter. State Street Corp grew its holdings in shares of 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 acquiring an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Corteva by 176.0% in the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after purchasing an additional 596,073 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Down 0.3 %

Shares of CTVA opened at $62.59 on Tuesday. The firm has a market cap of $42.91 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 1.68 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The firm has a 50 day moving average price of $60.88 and a 200-day moving average price of $59.01.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share 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 given a $0.17 dividend. 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 dividend payout ratio is presently 52.71%.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. Oppenheimer increased 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, KeyCorp raised their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

About Corteva

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.