Tower Research Capital LLC TRC Buys 11,565 Shares of Corteva, Inc. (NYSE:CTVA)

Tower Research Capital LLC TRC lifted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 34.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,225 shares of the company's stock after buying an additional 11,565 shares during the quarter. Tower Research Capital LLC TRC's holdings in Corteva were worth $2,576,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Oak Thistle LLC bought a new stake in shares of Corteva during the 4th quarter worth $1,514,000. Van ECK Associates Corp increased its position in shares of Corteva by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock valued at $537,031,000 after purchasing an additional 525,531 shares during the last quarter. Swedbank AB lifted its position in Corteva by 51.9% in the 4th quarter. Swedbank AB now owns 695,641 shares of the company's stock worth $39,624,000 after buying an additional 237,764 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock worth $31,486,000 after buying an additional 488,181 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its stake in shares of Corteva by 54.5% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company's stock worth $5,474,000 after acquiring an additional 33,886 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was 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 $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company's stock.

Corteva Stock Performance

CTVA traded down $0.21 during trading on Friday, hitting $61.50. The company's stock had a trading volume of 1,803,138 shares, compared to its average volume of 3,325,474. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The business's 50 day simple moving average is $60.71 and its 200-day simple moving average is $60.44. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm has a market cap of $42.01 billion, a PE ratio of 47.67, a P/E/G ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA - Get Free Report) last released 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 net margin of 5.36% and a return on equity of 7.19%. As a group, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's dividend payout ratio is currently 52.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CTVA shares. Royal Bank of Canada increased their target price on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a report on Monday, March 31st. BNP Paribas upgraded Corteva to a "hold" rating in a research report on Monday, February 10th. Wells Fargo & Company increased their price objective on Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.13.

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.