Corteva, Inc. (NYSE:CTVA) Position Boosted by Cerity Partners LLC

Cerity Partners LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 28.0% during the third quarter, HoldingsChannel.com reports. The firm owned 232,664 shares of the company’s stock after acquiring an additional 50,837 shares during the period. Cerity Partners LLC’s holdings in Corteva were worth $13,678,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in shares of Corteva during the 1st quarter worth about $25,000. Capital Advisors Ltd. LLC lifted its position in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in Corteva in the 2nd quarter worth approximately $34,000. Redwood Wealth Management Group LLC bought a new position in shares of Corteva in the second quarter valued at approximately $43,000. Finally, Triad Wealth Partners LLC bought a new position in Corteva in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Bank of America raised their price target on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Barclays lifted their price objective on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company boosted their target price on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.33.

Corteva Price Performance

Shares of CTVA opened at $64.12 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market cap of $44.07 billion, a PE ratio of 64.77, a price-to-earnings-growth ratio of 1.99 and a beta of 0.77. The business’s 50 day moving average price is $58.84 and its two-hundred day moving average price is $55.81. Corteva, Inc. has a 52-week low of $43.89 and a 52-week high of $64.20.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.06%. Corteva’s payout ratio is 68.69%.

Corteva announced that its Board of Directors has approved a share buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

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.