Corteva, Inc. (NYSE:CTVA) Shares Sold by Radnor Capital Management LLC

Radnor Capital Management LLC decreased its position in Corteva, Inc. (NYSE:CTVA) by 7.7% during the 4th quarter, Holdings Channel reports. The fund owned 25,820 shares of the company’s stock after selling 2,140 shares during the quarter. Radnor Capital Management LLC’s holdings in Corteva were worth $1,471,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Anomaly Capital Management LP acquired a new stake in shares of Corteva in the 2nd quarter valued at $188,578,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Corteva in the third quarter valued at $99,869,000. Franklin Resources Inc. raised its stake in Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after buying an additional 856,007 shares in the last quarter. Bank of Montreal Can lifted its holdings in Corteva by 370.6% during the 2nd quarter. Bank of Montreal Can now owns 1,074,361 shares of the company’s stock worth $57,951,000 after buying an additional 846,065 shares during the last quarter. Finally, KBC Group NV lifted its stake in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 1.4 %

CTVA opened at $60.79 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a 12 month low of $44.01 and a 12 month high of $64.20. The stock has a market capitalization of $41.78 billion, a P/E ratio of 61.40, a P/E/G ratio of 1.93 and a beta of 0.77. The business has a 50 day simple moving average of $58.83 and a 200-day simple moving average of $56.93.

Corteva declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. Corteva’s payout ratio is currently 68.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Oppenheimer reiterated an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. KeyCorp decreased their target price on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. UBS Group cut their price target 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, Citigroup decreased their price objective on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $65.47.

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.