149,901 Shares in Corteva, Inc. (NYSE:CTVA) Bought by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC bought a new position in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 149,901 shares of the company’s stock, valued at approximately $8,538,000.

Other large investors have also recently bought and sold shares of the company. Townsquare Capital LLC raised its holdings in Corteva by 13.1% in the 3rd quarter. Townsquare Capital LLC now owns 29,739 shares of the company’s stock valued at $1,748,000 after buying an additional 3,449 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Corteva by 11.3% during the third quarter. Public Sector Pension Investment Board now owns 29,502 shares of the company’s stock valued at $1,734,000 after acquiring an additional 3,000 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of Corteva by 8.5% during the third quarter. Verition Fund Management LLC now owns 69,153 shares of the company’s stock worth $4,066,000 after purchasing an additional 5,426 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Corteva in the third quarter worth $808,000. Finally, Benjamin Edwards Inc. increased its holdings in Corteva by 64.9% in the third quarter. Benjamin Edwards Inc. now owns 8,528 shares of the company’s stock valued at $502,000 after purchasing an additional 3,357 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Up 3.1 %

Shares of NYSE:CTVA opened at $62.96 on Tuesday. 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, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The business’s 50 day simple moving average is $62.55 and its two-hundred day simple moving average is $60.19. The firm has a market cap of $43.00 billion, a P/E ratio of 48.80, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last posted its quarterly earnings results 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%. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. Corteva’s dividend payout ratio is presently 52.71%.

Analyst Ratings Changes

Several research analysts have commented on CTVA shares. The Goldman Sachs Group started coverage on Corteva in a report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price on the stock. Citigroup lifted their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. KeyCorp increased their target price 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. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research report on Monday, February 10th. Finally, Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction 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 directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% 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.