Integrated Wealth Concepts LLC Sells 1,184 Shares of Corteva, Inc. (NYSE:CTVA)

Integrated Wealth Concepts LLC trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,947 shares of the company’s stock after selling 1,184 shares during the period. Integrated Wealth Concepts LLC’s holdings in Corteva were worth $1,173,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. KBC Group NV grew its stake in shares of Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Corteva by 51.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock valued at $6,668,000 after purchasing an additional 41,943 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Corteva by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after purchasing an additional 66,052 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Corteva by 16.1% in the third quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock worth $60,275,000 after purchasing an additional 141,898 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in shares of Corteva by 468.8% in the third quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company’s stock worth $2,656,000 after buying an additional 37,239 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CTVA shares. UBS Group increased their price target on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. Bank of America upped their price target on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. KeyCorp lifted their price objective on Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company upped their target price on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target of $65.06.

Corteva Stock Performance

Shares of CTVA opened at $59.49 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The stock has a market cap of $40.89 billion, a P/E ratio of 60.09, a P/E/G ratio of 1.98 and a beta of 0.77. The business’s 50 day moving average price is $59.56 and its 200-day moving average price is $56.12. Corteva, Inc. has a 52 week low of $44.01 and a 52 week high of $64.20.

Corteva declared that its board has initiated a stock repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is 68.69%.

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.