Corteva, Inc. (NYSE:CTVA) Insider Brian Titus Sells 26,560 Shares

Corteva, Inc. (NYSE:CTVA) insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Corteva Stock Performance

NYSE CTVA opened at $62.59 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $60.88 and its two-hundred day moving average is $59.01. The stock has a market capitalization of $42.91 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

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 repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Institutional Investors Weigh In On Corteva

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Flagship Wealth Advisors LLC acquired a new stake in shares of Corteva in the 4th quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in Corteva during the fourth quarter worth $26,000. Pinney & Scofield Inc. acquired a new stake in Corteva in the fourth quarter valued at $27,000. Hager Investment Management Services LLC purchased a new position in shares of Corteva in the fourth quarter valued at $27,000. Finally, LGT Financial Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth $31,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CTVA. Oppenheimer upped their target price on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Bank of America raised their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research report on Monday, February 10th. KeyCorp raised their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Citigroup lifted their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.