Avantax Advisory Services Inc. Raises Stock Position in Corteva, Inc. (NYSE:CTVA)

Avantax Advisory Services Inc. grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,878 shares of the company’s stock after buying an additional 2,871 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Corteva were worth $1,132,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Noble Wealth Management PBC purchased a new stake in Corteva during the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC bought a new stake in Corteva in the fourth quarter worth $32,000. Centricity Wealth Management LLC purchased a new position in Corteva during the fourth quarter worth $34,000. Finally, First Financial Corp IN bought a new position in Corteva during the fourth quarter valued at $35,000. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. The Goldman Sachs Group began coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. Barclays raised their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Corteva Stock Up 1.5 %

Shares of NYSE CTVA opened at $62.50 on Thursday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The stock’s fifty day simple moving average is $62.25 and its two-hundred day simple moving average is $59.79. The stock has a market capitalization of $42.85 billion, a PE ratio of 48.45, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued 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%. As a group, analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. Corteva’s payout ratio is 52.71%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the 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 completion of the sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

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.