DT Investment Partners LLC Sells 4,277 Shares of Corteva, Inc. (NYSE:CTVA)

DT Investment Partners LLC lowered its stake in Corteva, Inc. (NYSE:CTVA) by 21.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,427 shares of the company’s stock after selling 4,277 shares during the quarter. DT Investment Partners LLC’s holdings in Corteva were worth $879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. KBC Group NV lifted its holdings in shares of Corteva by 267.3% in the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after acquiring an additional 815,135 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Corteva in the fourth quarter worth about $1,514,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after acquiring an additional 66,052 shares during the last quarter. Swedbank AB lifted its holdings in shares of Corteva by 51.9% in the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after acquiring an additional 237,764 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after acquiring an additional 488,181 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA opened at $62.90 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $60.26 and its 200 day moving average is $58.38. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The stock has a market cap of $43.23 billion, a P/E ratio of 48.76, a P/E/G ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced 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%. Sell-side analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.08%. Corteva’s payout ratio is 52.71%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CTVA shares. KeyCorp upped their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Barclays upped their price objective on 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 upped their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. UBS Group lowered their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Oppenheimer upped their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

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.