Price T Rowe Associates Inc. MD Increases Holdings in Corteva, Inc. (NYSE:CTVA)

Price T Rowe Associates Inc. MD boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 97.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,961,440 shares of the company's stock after buying an additional 967,118 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.29% of Corteva worth $111,726,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new stake in Corteva in the 4th quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in Corteva during the fourth quarter worth $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva during the fourth quarter worth $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva during the fourth quarter valued at $32,000. Finally, Centricity Wealth Management LLC purchased a new position in Corteva in the fourth quarter valued at $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Citigroup upped their target price on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Barclays lifted their price target on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company raised their price target on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.13.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company's stock.

Corteva Trading Up 1.0 %

Shares of Corteva stock traded up $0.63 during trading hours on Friday, hitting $62.65. The company's stock had a trading volume of 3,181,608 shares, compared to its average volume of 3,316,711. The firm has a fifty day moving average of $60.60 and a 200-day moving average of $60.57. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a market cap of $42.79 billion, a price-to-earnings ratio of 48.57, a P/E/G ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

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

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd 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, June 2nd. 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.