Northwest & Ethical Investments L.P. Has $936,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Northwest & Ethical Investments L.P. trimmed its position in Corteva, Inc. (NYSE:CTVA) by 17.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,917 shares of the company’s stock after selling 3,343 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Corteva were worth $936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Anomaly Capital Management LP acquired a new position in shares of Corteva in the 2nd quarter valued at $188,578,000. Vaughan Nelson Investment Management L.P. boosted its holdings in Corteva by 392.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after purchasing an additional 3,254,126 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Corteva in the 3rd quarter valued at approximately $99,869,000. Bank of New York Mellon Corp raised its holdings in shares of Corteva by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after buying an additional 1,514,954 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of Corteva by 700.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after buying an additional 1,139,297 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Stock Down 0.4 %

NYSE:CTVA opened at $62.26 on Friday. The stock’s fifty day simple moving average is $59.24 and its 200-day simple moving average is $55.98. The firm has a market capitalization of $42.79 billion, a P/E ratio of 62.89, a P/E/G ratio of 2.03 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12-month low of $43.89 and a 12-month high of $64.20.

Corteva declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analyst Ratings Changes

CTVA has been the topic of a number of analyst reports. KeyCorp upped their price target on Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, UBS Group raised their price target on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four 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 $65.06.

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.