NBC Securities Inc. Invests $122,000 in Corteva, Inc. (NYSE:CTVA)

NBC Securities Inc. acquired a new stake in Corteva, Inc. (NYSE:CTVAFree Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 2,401 shares of the company’s stock, valued at approximately $122,000.

A number of other hedge funds have also recently bought and sold shares of CTVA. Moneta Group Investment Advisors LLC boosted its position in Corteva by 110,628.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock valued at $464,652,000 after buying an additional 7,897,795 shares during the last quarter. Norges Bank bought a new position in Corteva in the 4th quarter valued at $328,936,000. Wells Fargo & Company MN boosted its position in Corteva by 283.5% in the 2nd quarter. Wells Fargo & Company MN now owns 4,482,718 shares of the company’s stock valued at $256,860,000 after buying an additional 3,313,768 shares during the last quarter. Independent Franchise Partners LLP boosted its position in shares of Corteva by 38.1% in the 2nd quarter. Independent Franchise Partners LLP now owns 11,292,296 shares of the company’s stock worth $647,049,000 after purchasing an additional 3,115,825 shares during the last quarter. Finally, WCM Investment Management LLC boosted its position in shares of Corteva by 55.7% in the 3rd quarter. WCM Investment Management LLC now owns 6,889,197 shares of the company’s stock worth $352,451,000 after purchasing an additional 2,463,810 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CTVA shares. KeyCorp raised their price target on Corteva from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer raised their price target on Corteva from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley reduced their price target on Corteva from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, November 10th. Berenberg Bank lowered Corteva from a “buy” rating to a “hold” rating and reduced their price target for the stock from $63.00 to $52.00 in a research report on Monday, November 27th. Finally, BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $63.40.

Get Our Latest Stock Analysis on Corteva

Insider Buying and Selling at Corteva

In other Corteva news, EVP Robert D. King purchased 640 shares of the stock in a transaction on Tuesday, November 14th. The shares were purchased at an average cost of $46.77 per share, for a total transaction of $29,932.80. Following the purchase, the executive vice president now owns 59,701 shares of the company’s stock, valued at $2,792,215.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Samuel R. Eathington acquired 1,094 shares of the stock in a transaction dated Tuesday, November 28th. The shares were bought at an average cost of $46.07 per share, for a total transaction of $50,400.58. Following the purchase, the insider now directly owns 41,066 shares of the company’s stock, valued at $1,891,910.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert D. King acquired 640 shares of the stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $46.77 per share, for a total transaction of $29,932.80. Following the completion of the purchase, the executive vice president now directly owns 59,701 shares in the company, valued at $2,792,215.77. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,084 shares of company stock worth $95,527. Insiders own 0.14% of the company’s stock.

Corteva Stock Down 1.9 %

Corteva stock opened at $53.01 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $64.98. The company has a fifty day simple moving average of $46.50 and a 200 day simple moving average of $49.30. The company has a market cap of $37.36 billion, a P/E ratio of 51.97, a price-to-earnings-growth ratio of 1.15 and a beta of 0.73.

Corteva (NYSE:CTVAGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.38%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the business earned $0.16 EPS. Research analysts anticipate that Corteva, Inc. will post 3.02 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a $0.16 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.21%. Corteva’s payout ratio is currently 62.75%.

About Corteva

(Free Report)

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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