Orion Portfolio Solutions LLC Sells 4,230 Shares of Corteva, Inc. (NYSE:CTVA)

Orion Portfolio Solutions LLC trimmed its position in Corteva, Inc. (NYSE:CTVA) by 18.1% in the third quarter, Holdings Channel reports. The fund owned 19,077 shares of the company’s stock after selling 4,230 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Corteva were worth $1,122,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. KBC Group NV lifted its stake in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after acquiring an additional 815,135 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Corteva by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after acquiring an additional 66,052 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Corteva by 16.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock valued at $60,275,000 after acquiring an additional 141,898 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Corteva by 468.8% in the 3rd quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company’s stock valued at $2,656,000 after acquiring an additional 37,239 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Corteva by 0.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock valued at $12,942,000 after acquiring an additional 845 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

Shares of Corteva stock opened at $59.49 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $59.68 and a two-hundred day moving average price of $56.26. Corteva, Inc. has a 1-year low of $44.01 and a 1-year high of $64.20. The company has a market cap of $40.89 billion, a P/E ratio of 60.09, a PEG ratio of 1.94 and a beta of 0.77.

Corteva Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.14%. Corteva’s dividend payout ratio is presently 68.69%.

Corteva announced that its Board of Directors has approved a stock buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CTVA. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. Wells Fargo & Company increased their price objective on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Barclays increased 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 issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Finally, Bank of America increased their price objective on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.06.

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.