Kovitz Investment Group Partners LLC Sells 47,547 Shares of Corteva, Inc. (NYSE:CTVA)

Kovitz Investment Group Partners LLC reduced its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 53.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 40,763 shares of the company's stock after selling 47,547 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Corteva were worth $2,322,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC bought a new position in Corteva during the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva in the fourth quarter valued at $26,000. Hager Investment Management Services LLC bought a new position in Corteva in the fourth quarter worth $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Corteva in the 4th quarter valued at $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Corteva during the fourth quarter worth approximately $34,000. Institutional investors own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CTVA shares. Bank of America lifted their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Wells Fargo & Company increased their price target on Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Oppenheimer raised their price objective on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a report on Monday, March 31st. Finally, BNP Paribas upgraded shares of Corteva to a "hold" rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Corteva currently has an average rating of "Moderate Buy" and an average price target of $68.43.

Corteva Price Performance

NYSE:CTVA traded up $0.63 during trading hours on Friday, reaching $62.65. 3,181,608 shares of the company were exchanged, compared to its average volume of 3,316,711. The company has a market capitalization of $42.79 billion, a P/E ratio of 48.57, a P/E/G ratio of 1.68 and a beta of 0.72. 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 has a 50 day moving average of $60.60 and a 200 day moving average of $60.58. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. Corteva's dividend payout ratio (DPR) is 52.71%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was 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 owns 11,347 shares of the company's stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.