Leavell Investment Management Inc. Sells 28,792 Shares of Corteva, Inc. (NYSE:CTVA)

Leavell Investment Management Inc. cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 55.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,402 shares of the company’s stock after selling 28,792 shares during the quarter. Leavell Investment Management Inc.’s holdings in Corteva were worth $1,121,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC acquired a new position in Corteva during the second quarter worth $28,000. CVA Family Office LLC bought a new stake in shares of Corteva in the 4th quarter valued at about $25,000. PCA Investment Advisory Services Inc. acquired a new stake in Corteva in the 2nd quarter valued at about $31,000. NewSquare Capital LLC increased its position in Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after buying an additional 226 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc raised its stake in Corteva by 234.3% in the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after buying an additional 389 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

NYSE:CTVA opened at $56.95 on Friday. The stock’s 50-day moving average is $54.16 and its 200-day moving average is $49.99. The company has a current ratio of 1.56, a quick ratio of 0.90 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 $63.37. The stock has a market cap of $39.80 billion, a P/E ratio of 55.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The company 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 firm earned $0.16 earnings per share. Equities research analysts anticipate that Corteva, Inc. will post 2.87 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is currently 62.75%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTVA. Wells Fargo & Company increased their price target on Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Wolfe Research started coverage on Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. KeyCorp upped their price target on shares of Corteva from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, Loop Capital raised Corteva from a “hold” rating to a “buy” rating and increased their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.14.

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.