Linscomb Wealth Inc. Has $4.67 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Linscomb Wealth Inc. increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 2.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 81,920 shares of the company’s stock after purchasing an additional 2,059 shares during the quarter. Linscomb Wealth Inc.’s holdings in Corteva were worth $4,666,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Corteva during the third quarter worth $99,869,000. Franklin Resources Inc. boosted its stake in Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after purchasing an additional 856,007 shares during the period. KBC Group NV increased its holdings in Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares in the last quarter. State Street Corp raised its stake in shares of Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Corteva by 176.0% in the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after purchasing an additional 596,073 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

NYSE:CTVA opened at $62.82 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.45 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 stock’s 50 day moving average price is $61.23 and its two-hundred day moving average price is $59.14. The firm has a market capitalization of $43.07 billion, a price-to-earnings ratio of 48.70, a P/E/G ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (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%. On average, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.08%. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CTVA. Bank of America increased their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. UBS Group lowered their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. KeyCorp raised their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, BNP Paribas raised shares of 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 given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva 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.