Concurrent Investment Advisors LLC Purchases 1,054 Shares of Corteva, Inc. (NYSE:CTVA)

Concurrent Investment Advisors LLC lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 22.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,725 shares of the company’s stock after acquiring an additional 1,054 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Corteva were worth $326,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Hager Investment Management Services LLC acquired a new stake in Corteva during the 4th quarter worth $27,000. Golden State Wealth Management LLC bought a new stake in Corteva during the 4th quarter worth approximately $32,000. First Financial Corp IN bought a new stake in shares of Corteva during the fourth quarter worth $35,000. Albion Financial Group UT increased its holdings in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its holdings in shares of Corteva by 159.6% during the fourth quarter. Brown Lisle Cummings Inc. now owns 732 shares of the company’s stock worth $42,000 after buying an additional 450 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction on 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 sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Corteva Trading Up 0.6 %

CTVA opened at $62.96 on Wednesday. The business has a 50 day simple moving average of $60.97 and a two-hundred day simple moving average of $59.09. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. 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 firm has a market capitalization of $43.16 billion, a price-to-earnings ratio of 48.80, a PEG ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its quarterly 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%. Analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.08%. Corteva’s dividend payout ratio is presently 52.71%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CTVA shares. Wells Fargo & Company upped their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Oppenheimer increased their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Citigroup upped their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Bank of America raised their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Corteva presently 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.