Modern Wealth Management LLC Grows Stock Position in Corteva, Inc. (NYSE:CTVA)

Modern Wealth Management LLC raised its position in Corteva, Inc. (NYSE:CTVA) by 33.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,775 shares of the company’s stock after acquiring an additional 1,440 shares during the quarter. Modern Wealth Management LLC’s holdings in Corteva were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Chicago Partners Investment Group LLC raised its stake in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after buying an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after acquiring an additional 157 shares during the last quarter. Beacon Capital Management LLC raised its position in shares of Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after acquiring an additional 158 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after purchasing an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc increased its stake in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after purchasing an additional 166 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.3 %

Corteva stock opened at $62.54 on Friday. The stock’s 50 day moving average price is $62.56 and its 200 day moving average price is $60.03. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a market cap of $42.88 billion, a PE ratio of 48.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA) last issued its earnings results 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 return on equity of 7.19% and a net margin of 5.36%. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent analyst reports. Bank of America boosted their price objective 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. Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their price objective 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 target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Corteva Company Profile

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.