Enhancing Capital LLC Purchases Shares of 5,133 Corteva, Inc. (NYSE:CTVA)

Enhancing Capital LLC acquired a new position in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,133 shares of the company’s stock, valued at approximately $292,000.

Several other large investors have also modified their holdings of CTVA. Flagship Wealth Advisors LLC bought a new stake in Corteva during the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva during the fourth quarter worth approximately $26,000. Hager Investment Management Services LLC bought 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 worth $32,000. Finally, Centricity Wealth Management LLC acquired a new position in Corteva during the 4th quarter valued at $34,000. 81.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CTVA shares. Royal Bank of Canada upped their target price 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. The Goldman Sachs Group started coverage on shares of Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. UBS Group cut their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. KeyCorp upped their target price 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. Finally, BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. One equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Corteva Stock Down 0.1 %

CTVA opened at $61.51 on Wednesday. The firm’s 50-day simple moving average is $62.14 and its 200-day simple moving average is $59.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The firm has a market cap of $42.17 billion, a price-to-earnings ratio of 47.68, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last posted 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 return on equity of 7.19% and a net margin of 5.36%. Equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

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

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

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

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.