Westwood Holdings Group Inc. Buys 1,812 Shares of Corteva, Inc. (NYSE:CTVA)

Westwood Holdings Group Inc. boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,761 shares of the company’s stock after purchasing an additional 1,812 shares during the period. Westwood Holdings Group Inc.’s holdings in Corteva were worth $9,271,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. DAVENPORT & Co LLC raised its position in Corteva by 121.5% in the fourth quarter. DAVENPORT & Co LLC now owns 52,920 shares of the company’s stock worth $2,541,000 after acquiring an additional 29,026 shares during the period. Asset Management One Co. Ltd. raised its position in Corteva by 6.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 343,718 shares of the company’s stock worth $16,529,000 after acquiring an additional 21,999 shares during the period. International Assets Investment Management LLC bought a new position in Corteva in the fourth quarter worth approximately $4,852,000. Highlander Capital Management LLC raised its position in Corteva by 1,689.2% in the fourth quarter. Highlander Capital Management LLC now owns 2,648 shares of the company’s stock worth $127,000 after acquiring an additional 2,500 shares during the period. Finally, Allworth Financial LP raised its position in Corteva by 7.7% in the fourth quarter. Allworth Financial LP now owns 7,251 shares of the company’s stock worth $347,000 after acquiring an additional 518 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA traded down $1.42 during trading hours on Friday, hitting $51.58. 3,784,039 shares of the company were exchanged, compared to its average volume of 2,620,352. The stock has a market capitalization of $35.95 billion, a price-to-earnings ratio of 65.29, a PEG ratio of 1.46 and a beta of 0.77. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 0.97. The company’s 50 day moving average price is $53.48 and its 200-day moving average price is $53.92.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period in the previous year, the business posted $1.60 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Corteva, Inc. will post 2.73 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.32%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 3rd. Corteva’s payout ratio is presently 81.01%.

Analyst Ratings Changes

CTVA has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday. Mizuho reduced their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. OTR Global reissued a “negative” rating on shares of Corteva in a research note on Friday, June 7th. BMO Capital Markets raised their target price on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Oppenheimer raised their target price on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $62.60.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,556 shares of company stock worth $4,795,016. Company insiders own 0.14% of the company’s stock.

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.