Asset Planning Inc Makes New $130,000 Investment in Corteva, Inc. (NYSE:CTVA)

Asset Planning Inc acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,285 shares of the company’s stock, valued at approximately $130,000.

A number of other large investors also recently modified their holdings of CTVA. Hager Investment Management Services LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC purchased a new position in shares of Corteva during the fourth quarter worth approximately $32,000. Capital Advisors Ltd. LLC raised its stake in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. First Financial Corp IN purchased a new position in shares of Corteva during the fourth quarter worth approximately $35,000. Finally, Albion Financial Group UT raised its stake in shares of Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

NYSE CTVA opened at $62.90 on Friday. The stock has a market capitalization of $43.23 billion, a price-to-earnings ratio of 48.76, a PEG ratio of 1.85 and a beta of 0.78. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $60.26 and a 200 day moving average of $58.38.

Corteva (NYSE:CTVA) last announced 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 net margin of 5.36% and a return on equity of 7.19%. Sell-side analysts anticipate that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Corteva Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research reports. Royal Bank of Canada lifted their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. UBS Group cut their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Bank of America lifted 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. Oppenheimer boosted their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, KeyCorp boosted their target price 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, three have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $67.73.

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.