Twin Capital Management Inc. Decreases Position in Corteva, Inc. (NYSE:CTVA)

Twin Capital Management Inc. decreased its stake in Corteva, Inc. (NYSE:CTVA) by 47.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,403 shares of the company’s stock after selling 9,522 shares during the period. Twin Capital Management Inc.’s holdings in Corteva were worth $499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Goodman Advisory Group LLC boosted its position in shares of Corteva by 3.8% in the fourth quarter. Goodman Advisory Group LLC now owns 39,616 shares of the company’s stock worth $1,898,000 after buying an additional 1,447 shares during the period. Keene & Associates Inc. boosted its position in shares of Corteva by 20.6% in the fourth quarter. Keene & Associates Inc. now owns 13,817 shares of the company’s stock worth $662,000 after buying an additional 2,358 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Corteva by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock worth $132,293,000 after acquiring an additional 31,171 shares in the last quarter. Romano Brothers AND Company lifted its stake in shares of Corteva by 12.2% in the fourth quarter. Romano Brothers AND Company now owns 4,778 shares of the company’s stock worth $229,000 after acquiring an additional 518 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Corteva in the fourth quarter worth about $2,041,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.6 %

Shares of NYSE CTVA opened at $54.80 on Friday. The company has a market cap of $38.30 billion, a price-to-earnings ratio of 53.73, a price-to-earnings-growth ratio of 1.41 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $62.10. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock’s 50 day simple moving average is $55.23 and its 200 day simple moving average is $50.30.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter last year, the business posted $0.16 EPS. Equities research analysts expect that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is 62.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. BNP Paribas upgraded Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research note on Friday, February 2nd. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Oppenheimer boosted their price target on Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday. Royal Bank of Canada boosted their price target on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company boosted their price target on Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.29.

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.