Argyle Capital Management LLC Raises Holdings in Corteva, Inc. (NYSE:CTVA)

Argyle Capital Management LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,374 shares of the company’s stock after buying an additional 542 shares during the period. Argyle Capital Management LLC’s holdings in Corteva were worth $1,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CTVA. Parkside Financial Bank & Trust lifted its position in shares of Corteva by 9.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,952 shares of the company’s stock valued at $168,000 after buying an additional 254 shares during the last quarter. Anchor Capital Advisors LLC lifted its position in Corteva by 228.8% during the fourth quarter. Anchor Capital Advisors LLC now owns 629,215 shares of the company’s stock valued at $35,840,000 after acquiring an additional 437,821 shares during the last quarter. Linscomb Wealth Inc. boosted its stake in Corteva by 2.6% in the fourth quarter. Linscomb Wealth Inc. now owns 81,920 shares of the company’s stock valued at $4,666,000 after acquiring an additional 2,059 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Corteva by 4.3% in the fourth quarter. QRG Capital Management Inc. now owns 27,563 shares of the company’s stock worth $1,570,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Versor Investments LP acquired a new position in shares of Corteva during the fourth quarter worth $356,000. Institutional investors own 81.54% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Trading Up 0.0 %

NYSE CTVA opened at $62.82 on Friday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market capitalization of $43.07 billion, a PE ratio of 48.70, a P/E/G ratio of 1.68 and a beta of 0.78. The company has a fifty day moving average of $61.23 and a 200 day moving average of $59.14.

Corteva (NYSE:CTVA) last released its quarterly earnings data 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%. Research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva announced that its board has approved a share repurchase program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given 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 dividend payout ratio is presently 52.71%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of recent analyst reports. Wells Fargo & Company raised 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. Citigroup raised their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. UBS Group cut 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. KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

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.