Insider Selling: Corteva, Inc. (NYSE:CTVA) Insider Sells $1,692,934.40 in Stock

Corteva, Inc. (NYSE:CTVA) insider Brian Titus sold 26,560 shares of the business’s 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 sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Corteva Stock Down 0.5 %

Shares of Corteva stock opened at $62.65 on Thursday. The firm has a market cap of $42.95 billion, a price-to-earnings ratio of 48.57, a PEG ratio of 1.68 and a beta of 0.78. The stock’s 50-day moving average is $61.09 and its 200 day moving average is $59.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24.

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 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%. Equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Corteva declared that its board has initiated a share buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Corteva

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Corteva by 19.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 48,470 shares of the company’s stock valued at $2,850,000 after acquiring an additional 7,923 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Corteva by 1.1% in the 3rd quarter. Private Advisor Group LLC now owns 28,482 shares of the company’s stock worth $1,674,000 after purchasing an additional 313 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Corteva in the 3rd quarter valued at $8,239,000. Assenagon Asset Management S.A. increased its stake in Corteva by 288.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 64,588 shares of the company’s stock valued at $3,797,000 after purchasing an additional 47,953 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in Corteva by 9.6% during the third quarter. Ballentine Partners LLC now owns 16,307 shares of the company’s stock worth $959,000 after buying an additional 1,422 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several research reports. Oppenheimer boosted their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada upped their price target on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays lifted their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. KeyCorp increased their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. 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 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Company 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.