Corteva, Inc. (NYSE:CTVA) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 3.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,761 shares of the company’s stock after selling 188 shares during the period. Bridges Investment Management Inc.’s holdings in Corteva were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new position in Corteva in the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new position in Corteva in the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC acquired a new position in Corteva in the 4th quarter worth approximately $32,000. Centricity Wealth Management LLC acquired a new position in Corteva in the 4th quarter worth approximately $34,000. Finally, First Financial Corp IN acquired a new position in Corteva in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CTVA shares. KeyCorp increased their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Barclays upped their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company upped their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Citigroup upped their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Bank of America upped their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.79.

Corteva Trading Down 4.3 %

Shares of NYSE:CTVA opened at $60.28 on Tuesday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The firm has a market capitalization of $41.33 billion, a price-to-earnings ratio of 46.73, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business’s 50 day moving average price is $61.40 and its 200-day moving average price is $59.38.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. On average, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva announced that its Board of Directors has initiated a share repurchase program 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 programs are generally a sign that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. Corteva’s payout ratio is currently 52.71%.

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.