KLP Kapitalforvaltning AS Lowers Stock Position in Corteva, Inc. $CTVA

Key Points

• KLP Kapitalforvaltning AS cut its position in Corteva by 36.9% in Q4, selling 146,900 shares and retaining 251,676 shares worth about $16.87 million.
• Insider Brian Titus sold 8,311 shares on Feb. 20 at an average price of $76.55 for roughly $636,207, cutting his stake by about 50.7%; insiders now hold roughly 0.15% of the company.
• Analysts hold a consensus Moderate Buy on CTVA with an average price target of $84.90, after several firms raised targets (Deutsche Bank, Oppenheimer, RBC) while JPMorgan moved to a neutral rating.

KLP Kapitalforvaltning AS cut its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 36.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,676 shares of the company's stock after selling 146,900 shares during the period. KLP Kapitalforvaltning AS's holdings in Corteva were worth $16,870,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fox Run Management L.L.C. lifted its holdings in Corteva by 5.1% during the third quarter. Fox Run Management L.L.C. now owns 3,361 shares of the company's stock valued at $227,000 after purchasing an additional 164 shares in the last quarter. IFG Advisory LLC increased its position in Corteva by 1.7% during the third quarter. IFG Advisory LLC now owns 9,764 shares of the company's stock worth $660,000 after purchasing an additional 166 shares during the last quarter. Kelleher Financial Advisors increased its position in Corteva by 3.8% during the third quarter. Kelleher Financial Advisors now owns 4,594 shares of the company's stock worth $311,000 after purchasing an additional 170 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Corteva by 6.1% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,969 shares of the company's stock worth $199,000 after purchasing an additional 172 shares during the last quarter. Finally, United Community Bank increased its position in shares of Corteva by 10.5% during the third quarter. United Community Bank now owns 1,849 shares of the company's stock valued at $125,000 after acquiring an additional 176 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Corteva from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Oppenheimer lifted their price target on shares of Corteva from $86.00 to $89.00 and gave the stock an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of Corteva from an "overweight" rating to a "neutral" rating and lifted their price target for the stock from $75.00 to $77.00 in a research note on Thursday, February 5th. Citigroup upped their price objective on shares of Corteva from $74.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada lifted their price target on Corteva from $80.00 to $89.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.90.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 8,311 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $76.55, for a total transaction of $636,207.05. Following the completion of the sale, the insider owned 8,090 shares of the company's stock, valued at approximately $619,289.50. This trade represents a 50.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

Corteva Price Performance

NYSE:CTVA opened at $79.66 on Friday. The firm has a market cap of $53.48 billion, a price-to-earnings ratio of 50.41, a price-to-earnings-growth ratio of 2.72 and a beta of 0.68. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 0.07. The company's 50-day moving average is $80.00 and its two-hundred day moving average is $71.49. Corteva, Inc. has a 12-month low of $60.53 and a 12-month high of $85.63.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.22. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $4.23 billion. Corteva had a net margin of 6.29% and a return on equity of 9.06%. The firm's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Research analysts expect that Corteva, Inc. will post 3.62 EPS for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva's dividend payout ratio (DPR) is presently 45.57%.

Corteva Profile

Corteva, Inc NYSE: CTVA is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva's operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.