Conning Inc. Has $209,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Conning Inc. lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 15.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,669 shares of the company’s stock after selling 645 shares during the period. Conning Inc.’s holdings in Corteva were worth $209,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Hager Investment Management Services LLC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in Corteva during the fourth quarter worth $32,000. Capital Advisors Ltd. LLC raised its position in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares during the last quarter. First Financial Corp IN bought a new position in Corteva during the 4th quarter valued at $35,000. Finally, Albion Financial Group UT boosted its holdings in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup raised their price target 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. KeyCorp lifted their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. Barclays increased their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, 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 report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $67.31.

Corteva Stock Performance

Shares of CTVA stock opened at $62.32 on Monday. The firm’s 50 day moving average is $60.22 and its 200 day moving average is $58.22. The stock has a market capitalization of $42.83 billion, a P/E ratio of 48.31, a PEG ratio of 1.85 and a beta of 0.78. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last announced its quarterly 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 net margin of 5.36% and a return on equity of 7.19%. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows 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 leadership believes its shares are undervalued.

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 given a dividend of $0.17 per share. 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 1.09%. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

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.