Empower Advisory Group LLC Has $312,000 Stake in Corteva, Inc. (NYSE:CTVA)

Empower Advisory Group LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,481 shares of the company’s stock after buying an additional 483 shares during the period. Empower Advisory Group LLC’s holdings in Corteva were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CTVA. Hager Investment Management Services LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $32,000. Capital Advisors Ltd. LLC increased its holdings in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. First Financial Corp IN acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $35,000. Finally, Albion Financial Group UT increased its holdings in shares of Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 1.3 %

CTVA opened at $63.65 on Thursday. The stock has a market capitalization of $43.75 billion, a P/E ratio of 49.34, a P/E/G ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm’s fifty day simple moving average is $60.65 and its 200 day simple moving average is $58.71. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS 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, research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.07%. Corteva’s payout ratio is currently 52.71%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTVA. Royal Bank of Canada raised their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. KeyCorp raised their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. UBS Group reduced their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company raised their price objective on shares of 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 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

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.