SRS Capital Advisors Inc. Sells 738 Shares of Corteva, Inc. (NYSE:CTVA)

SRS Capital Advisors Inc. cut its holdings in Corteva, Inc. (NYSE:CTVA) by 27.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,983 shares of the company’s stock after selling 738 shares during the period. SRS Capital Advisors Inc.’s holdings in Corteva were worth $113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTVA. Noble Wealth Management PBC purchased a new position in shares of Corteva in the fourth quarter worth $26,000. Hager Investment Management Services LLC bought a new stake in Corteva in the 4th quarter valued at $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva in the 4th quarter worth $32,000. Centricity Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter valued at about $34,000. Finally, First Financial Corp IN purchased a new position in shares of Corteva during the fourth quarter valued at about $35,000. 81.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

Corteva Stock Up 2.3 %

Shares of NYSE CTVA opened at $61.17 on Thursday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The firm has a 50-day simple moving average of $61.52 and a two-hundred day simple moving average of $59.44. The company has a market cap of $41.94 billion, a P/E ratio of 47.42, a PEG ratio of 1.68 and a beta of 0.79. 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 issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (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%. Research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

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

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is presently 52.71%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group decreased their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. KeyCorp raised their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Oppenheimer boosted their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Citigroup increased their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.79.

Corteva 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.