Union Bancaire Privee UBP SA Purchases New Position in Corteva, Inc. (NYSE:CTVA)

Union Bancaire Privee UBP SA purchased a new stake in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,610 shares of the company’s stock, valued at approximately $357,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CTVA. Allspring Global Investments Holdings LLC boosted its holdings in Corteva by 19.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 48,470 shares of the company’s stock worth $2,850,000 after buying an additional 7,923 shares during the last quarter. Private Advisor Group LLC boosted its holdings in 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 buying an additional 313 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Corteva in the 3rd quarter worth about $8,239,000. Assenagon Asset Management S.A. boosted its holdings in Corteva by 288.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 64,588 shares of the company’s stock worth $3,797,000 after buying an additional 47,953 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Corteva by 5.3% in the 3rd quarter. Allworth Financial LP now owns 11,676 shares of the company’s stock worth $686,000 after buying an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.3 %

CTVA opened at $62.59 on Tuesday. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The stock has a market capitalization of $42.91 billion, a PE ratio of 48.52, a P/E/G ratio of 1.68 and a beta of 0.78. The business’s 50 day moving average price is $60.88 and its 200 day moving average price is $59.01. 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 net margin of 5.36% and a return on equity of 7.19%. As a group, equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva declared that its board has approved a share repurchase program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

The company 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 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 of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CTVA shares. Bank of America lifted their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, KeyCorp boosted their target price on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target 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.