King Luther Capital Management Corp Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

King Luther Capital Management Corp boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 456,262 shares of the company’s stock after acquiring an additional 5,582 shares during the quarter. King Luther Capital Management Corp’s holdings in Corteva were worth $25,989,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Noble Wealth Management PBC bought a new position in shares of Corteva during the fourth quarter valued at approximately $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 bought a new position in Corteva in the 4th quarter worth $32,000. Centricity Wealth Management LLC purchased a new stake in shares of Corteva in the 4th quarter worth about $34,000. Finally, First Financial Corp IN bought a new stake in shares of Corteva during the 4th quarter valued at about $35,000. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of a number of research reports. Citigroup increased their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. KeyCorp increased their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Barclays boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average price target of $67.79.

Corteva Stock Down 0.4 %

Shares of Corteva stock opened at $59.98 on Wednesday. The company has a 50-day simple moving average of $61.79 and a two-hundred day simple moving average of $59.64. The stock has a market capitalization of $41.12 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva announced that its Board of Directors has approved 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 reacquire up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva 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 completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.