Erste Asset Management GmbH Has $744,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Erste Asset Management GmbH cut its position in Corteva, Inc. (NYSE:CTVA) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,000 shares of the company’s stock after selling 800 shares during the quarter. Erste Asset Management GmbH’s holdings in Corteva were worth $744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Noble Wealth Management PBC acquired a new position in Corteva in the 4th quarter valued at $26,000. Hager Investment Management Services LLC acquired a new position in Corteva in the 4th quarter valued at $27,000. Golden State Wealth Management LLC acquired a new position in Corteva in the 4th quarter valued at $32,000. Centricity Wealth Management LLC acquired a new position in Corteva in the 4th quarter valued at $34,000. Finally, First Financial Corp IN acquired a new position in Corteva in the 4th quarter valued at $35,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corteva

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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CTVA. Oppenheimer raised their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Bank of America increased 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. KeyCorp increased 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. Wells Fargo & Company increased 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. Finally, UBS Group reduced their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Corteva Trading Up 2.2 %

Shares of CTVA stock opened at $59.90 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $41.06 billion, a P/E ratio of 46.43, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The firm has a 50-day moving average price of $61.96 and a 200 day moving average price of $59.69.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. Research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva declared that its board has authorized a stock repurchase program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is presently 52.71%.

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.