Parkside Financial Bank & Trust Raises Position in Corteva, Inc. (NYSE:CTVA)

Parkside Financial Bank & Trust lifted its stake in Corteva, Inc. (NYSE:CTVA) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,952 shares of the company’s stock after buying an additional 254 shares during the period. Parkside Financial Bank & Trust’s holdings in Corteva were worth $168,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CTVA. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Corteva in the third quarter worth about $99,869,000. Franklin Resources Inc. lifted its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after acquiring an additional 856,007 shares in the last quarter. KBC Group NV lifted its stake in shares of Corteva by 267.3% in the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after acquiring an additional 815,135 shares in the last quarter. State Street Corp lifted its stake in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after acquiring an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Corteva by 176.0% in the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after acquiring an additional 596,073 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. 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 note on Friday, January 10th. Citigroup upped their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company upped their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $67.79.

Corteva Stock Up 0.2 %

Shares of Corteva stock opened at $62.96 on Friday. 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 simple moving average is $61.34 and its 200-day simple moving average is $59.28. The stock has a market capitalization of $43.16 billion, a price-to-earnings ratio of 48.81, a PEG ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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 forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Corteva Dividend Announcement

The firm 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 $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

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.