Utah Retirement Systems Has $6.60 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Utah Retirement Systems increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 115,850 shares of the company’s stock after buying an additional 200 shares during the quarter. Utah Retirement Systems’ holdings in Corteva were worth $6,599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTVA. Flagship Wealth Advisors LLC bought a new position in shares of Corteva during the 4th quarter worth about $25,000. Noble Wealth Management PBC bought a new stake in shares of Corteva in the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva during the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva during the fourth quarter valued at approximately $32,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Corteva in the fourth quarter valued at $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on 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 owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Monday, March 31st. KeyCorp upped their target price on shares of Corteva from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Wells Fargo & Company increased their price target 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. UBS Group decreased their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, The Goldman Sachs Group began coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $68.13.

Corteva Trading Up 0.3 %

NYSE CTVA opened at $61.97 on Thursday. The company has a market cap of $42.33 billion, a price-to-earnings ratio of 48.04, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $60.62 and its 200 day moving average is $60.49. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

Corteva (NYSE:CTVA) last released 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 return on equity of 7.19% and a net margin of 5.36%. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. Corteva’s dividend payout ratio is presently 52.71%.

About Corteva

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.