Waldron Private Wealth LLC Reduces Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Waldron Private Wealth LLC trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,292 shares of the company’s stock after selling 280 shares during the quarter. Waldron Private Wealth LLC’s holdings in Corteva were worth $253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keene & Associates Inc. raised its position in shares of Corteva by 20.6% in the fourth quarter. Keene & Associates Inc. now owns 13,817 shares of the company’s stock worth $662,000 after acquiring an additional 2,358 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Corteva by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock valued at $132,293,000 after purchasing an additional 31,171 shares in the last quarter. Romano Brothers AND Company raised its holdings in Corteva by 12.2% in the 4th quarter. Romano Brothers AND Company now owns 4,778 shares of the company’s stock worth $229,000 after purchasing an additional 518 shares during the period. Louisiana State Employees Retirement System purchased a new position in Corteva during the fourth quarter worth approximately $2,041,000. Finally, WCM Investment Management LLC grew its holdings in Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after purchasing an additional 213,949 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of recent analyst reports. Oppenheimer increased their target price on Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. KeyCorp lifted their target price on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and upped their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Wells Fargo & Company lifted their price objective on Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Mizuho reduced their target price on Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Stock Performance

NYSE:CTVA opened at $53.32 on Wednesday. The company’s 50-day moving average is $55.20 and its two-hundred day moving average is $50.22. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $63.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The firm has a market capitalization of $37.26 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter in the previous year, the company earned $0.16 EPS. Analysts forecast that Corteva, Inc. will post 2.86 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio is presently 62.75%.

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.