Advisors Capital Management LLC Has $390,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Advisors Capital Management LLC cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,848 shares of the company’s stock after selling 932 shares during the period. Advisors Capital Management LLC’s holdings in Corteva were worth $390,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Oak Thistle LLC bought a new position in shares of Corteva during the 4th quarter worth approximately $1,514,000. Van ECK Associates Corp boosted its position in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after purchasing an additional 525,531 shares during the period. Swedbank AB increased 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 valued at $39,624,000 after purchasing an additional 237,764 shares during the last quarter. Assenagon Asset Management S.A. raised its position 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 valued at $31,486,000 after purchasing an additional 488,181 shares during the period. Finally, S.E.E.D. Planning Group LLC lifted its stake in shares of Corteva by 54.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock worth $5,474,000 after buying an additional 33,886 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated 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 owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group cut their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company increased their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $68.13.

Corteva Stock Down 1.0 %

Shares of NYSE CTVA opened at $59.68 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $61.15 and a 200-day moving average of $60.27. The firm has a market capitalization of $40.77 billion, a price-to-earnings ratio of 46.27, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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 expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.