Transcend Capital Advisors LLC Grows Holdings in Corteva, Inc. (NYSE:CTVA)

Transcend Capital Advisors LLC grew its holdings in Corteva, Inc. (NYSE:CTVA) by 21.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,750 shares of the company’s stock after buying an additional 2,054 shares during the period. Transcend Capital Advisors LLC’s holdings in Corteva were worth $669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corteva during the third quarter worth approximately $99,869,000. Franklin Resources Inc. raised its position in Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares during the last quarter. KBC Group NV raised its position in Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after buying an additional 815,135 shares during the last quarter. State Street Corp raised its position in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Corteva by 176.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after buying an additional 596,073 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Down 1.7 %

NYSE:CTVA opened at $62.75 on Friday. The company has a market capitalization of $43.02 billion, a price-to-earnings ratio of 48.64, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The stock has a 50-day simple moving average of $60.81 and a 200 day simple moving average of $58.88. 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 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

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

Corteva Announces Dividend

The firm 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 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 1.08%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Analyst Ratings Changes

Several research firms recently issued reports on CTVA. Royal Bank of Canada increased their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Barclays increased their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Bank of America increased their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average price target of $67.73.

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.