Global View Capital Management LLC Invests $412,000 in Corteva, Inc. (NYSE:CTVA)

Global View Capital Management LLC purchased a new position in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,317 shares of the company’s stock, valued at approximately $412,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Noble Wealth Management PBC purchased a new stake in Corteva in the fourth quarter worth about $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva in the fourth quarter worth about $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva in the fourth quarter worth about $32,000. Centricity Wealth Management LLC purchased a new stake in Corteva in the fourth quarter worth about $34,000. Finally, First Financial Corp IN purchased a new stake in Corteva in the fourth quarter worth about $35,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Down 0.5 %

CTVA stock opened at $60.23 on Tuesday. The firm has a 50 day moving average of $61.73 and a 200 day moving average of $59.61. The stock has a market capitalization of $41.29 billion, a PE ratio of 46.69, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24.

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

Corteva Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Corteva declared that its board has authorized a stock repurchase plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Citigroup increased their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Oppenheimer increased their price target on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, Bank of America increased their price target on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.79.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred 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 directly owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

About Corteva

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.