Verdence Capital Advisors LLC Sells 593 Shares of Corteva, Inc. (NYSE:CTVA)

Verdence Capital Advisors LLC lowered its position in Corteva, Inc. (NYSE:CTVA) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,031 shares of the company’s stock after selling 593 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Corteva were worth $481,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. DT Investment Partners LLC boosted its stake in Corteva by 634.1% during the fourth quarter. DT Investment Partners LLC now owns 15,050 shares of the company’s stock worth $690,000 after buying an additional 13,000 shares in the last quarter. abrdn plc boosted its position in shares of Corteva by 67.6% during the 4th quarter. abrdn plc now owns 303,231 shares of the company’s stock valued at $14,531,000 after acquiring an additional 122,359 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Corteva in the fourth quarter valued at about $115,000. Naples Money Management LLC acquired a new position in Corteva in the fourth quarter worth about $31,000. Finally, Xponance Inc. lifted its stake in Corteva by 3.8% during the fourth quarter. Xponance Inc. now owns 90,297 shares of the company’s stock worth $4,327,000 after purchasing an additional 3,284 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Corteva stock opened at $55.20 on Tuesday. The company has a market cap of $38.58 billion, a PE ratio of 54.12, a PEG ratio of 1.44 and a beta of 0.77. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $61.87. The company’s 50-day moving average is $55.23 and its two-hundred day moving average is $50.33.

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

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTVA. Wolfe Research began coverage on Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective on the stock. Royal Bank of Canada increased their price objective on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. UBS Group reduced their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Wells Fargo & Company increased their target price on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Mizuho reduced their price target on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and fifteen 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 target price 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.