Private Trust Co. NA Buys 392 Shares of Corteva, Inc. (NYSE:CTVA)

Private Trust Co. NA increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 8.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,015 shares of the company’s stock after acquiring an additional 392 shares during the period. Private Trust Co. NA’s holdings in Corteva were worth $286,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC boosted its holdings in shares of Corteva by 49.6% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 10,421 shares of the company’s stock valued at $613,000 after buying an additional 3,457 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Corteva by 26.5% in the third quarter. Farther Finance Advisors LLC now owns 4,210 shares of the company’s stock valued at $248,000 after acquiring an additional 881 shares during the last quarter. Pure Financial Advisors LLC acquired a new stake in Corteva in the third quarter valued at $217,000. Confluence Wealth Services Inc. grew its position in shares of Corteva by 3.4% in the 3rd quarter. Confluence Wealth Services Inc. now owns 9,937 shares of the company’s stock valued at $584,000 after acquiring an additional 330 shares during the period. Finally, Old North State Wealth Management LLC increased its stake in shares of Corteva by 33.5% during the 3rd quarter. Old North State Wealth Management LLC now owns 6,432 shares of the company’s stock worth $379,000 after purchasing an additional 1,613 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTVA has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Bank of America raised their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Barclays boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Oppenheimer raised 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. Finally, UBS Group decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.79.

Corteva Stock Down 4.3 %

Shares of CTVA opened at $60.28 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm’s 50 day moving average is $61.40 and its 200-day moving average is $59.38. The stock has a market capitalization of $41.33 billion, a PE ratio of 46.73, a P/E/G ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings data 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 return on equity of 7.19% and a net margin of 5.36%. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. Corteva’s payout ratio is 52.71%.

Corteva announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s 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 transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.14% of the company’s stock.

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.