Neuberger Berman Group LLC Has $64.06 Million Stake in Corteva, Inc. (NYSE:CTVA)

Neuberger Berman Group LLC boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,124,666 shares of the company’s stock after buying an additional 19,021 shares during the period. Neuberger Berman Group LLC owned approximately 0.16% of Corteva worth $64,061,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new position in Corteva during the 4th quarter valued at $26,000. Hager Investment Management Services LLC purchased a new position in Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC purchased a new position in Corteva during the 4th quarter valued at $32,000. Finally, Centricity Wealth Management LLC purchased a new position in Corteva during the 4th quarter valued at $34,000. Institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Corteva Trading Up 5.7 %

Shares of NYSE:CTVA opened at $58.70 on Thursday. 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 stock has a market cap of $40.09 billion, a PE ratio of 45.50, a P/E/G ratio of 1.68 and a beta of 0.73. The business has a 50 day moving average of $61.53 and a 200-day moving average of $60.23. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.

Corteva (NYSE:CTVA) last issued its quarterly 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%. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Analysts Set New Price Targets

CTVA has been the topic of several research analyst reports. Barclays upped their target price 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. The Goldman Sachs Group started coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target for the company. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, KeyCorp boosted their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.06.

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.