Congress Wealth Management LLC DE Buys 2,584 Shares of Corteva, Inc. (NYSE:CTVA)

Congress Wealth Management LLC DE raised its position in Corteva, Inc. (NYSE:CTVA) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,264 shares of the company’s stock after purchasing an additional 2,584 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Corteva were worth $6,224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Corteva in the fourth quarter valued at approximately $161,052,000. Franklin Resources Inc. increased its position in shares of Corteva by 6.1% during the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares during the period. State Street Corp raised its stake in Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Corteva by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after buying an additional 646,459 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Corteva by 176.0% during the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after acquiring an additional 596,073 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm’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 sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. KeyCorp increased their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Barclays lifted 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. Finally, Wells Fargo & Company increased their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Corteva Stock Performance

Shares of CTVA stock opened at $61.91 on Wednesday. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company has a market cap of $42.44 billion, a P/E ratio of 47.99, a P/E/G ratio of 1.68 and a beta of 0.79. The firm has a 50-day moving average of $62.50 and a 200-day moving average of $59.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend 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.