LPL Financial LLC Has $38.02 Million Holdings in Corteva, Inc. (NYSE:CTVA)

LPL Financial LLC lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 24.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 667,511 shares of the company’s stock after buying an additional 129,836 shares during the period. LPL Financial LLC’s holdings in Corteva were worth $38,021,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CTVA. Flagship Wealth Advisors LLC acquired a new stake in Corteva in the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new stake in shares of Corteva in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC bought a new stake in Corteva in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new position in Corteva during the 4th quarter worth approximately $32,000. Finally, Centricity Wealth Management LLC bought a new position in Corteva in the fourth quarter worth approximately $34,000. Institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In other Corteva 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 completion of the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by insiders.

Corteva Stock Performance

Shares of Corteva stock opened at $61.08 on Friday. The business’s fifty day simple moving average is $62.53 and its 200 day simple moving average is $60.07. 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, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm has a market capitalization of $41.88 billion, a P/E ratio of 47.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CTVA shares. BNP Paribas upgraded Corteva to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays lifted 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. The Goldman Sachs Group began coverage on shares of Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price on the stock. Finally, Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target 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.