Moors & Cabot Inc. Sells 515 Shares of Corteva, Inc. (NYSE:CTVA)

Moors & Cabot Inc. lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,831 shares of the company’s stock after selling 515 shares during the quarter. Moors & Cabot Inc.’s holdings in Corteva were worth $1,927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its holdings in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares in the last quarter. Geode Capital Management LLC increased its holdings in Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after purchasing an additional 355,206 shares in the last quarter. Franklin Resources Inc. increased its holdings in Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares in the last quarter. Harris Associates L P increased its stake in shares of Corteva by 1.4% in the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after buying an additional 200,917 shares during the period. Finally, FMR LLC increased its stake in shares of Corteva by 1.9% in the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after buying an additional 203,126 shares during the period. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. KeyCorp lifted their target price on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. UBS Group lowered their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Oppenheimer lifted their target price on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays lifted their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.79.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 11,347 shares in the company, valued at $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 SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Performance

CTVA stock opened at $59.07 on Thursday. The business’s 50-day moving average price is $61.84 and its two-hundred day moving average price is $59.63. 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 firm has a market cap of $40.50 billion, a PE ratio of 45.79, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, 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 will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. Corteva’s dividend payout ratio (DPR) is 52.71%.

Corteva announced that its Board of Directors has approved a share repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.