Corteva, Inc. (NYSE:CTVA) Shares Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 82.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 17,282 shares of the company’s stock after buying an additional 7,822 shares during the quarter. EP Wealth Advisors LLC’s holdings in Corteva were worth $1,016,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CTVA. Capital Advisors Ltd. LLC raised its holdings in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the last quarter. Cultivar Capital Inc. acquired a new position in Corteva in the 2nd quarter valued at $34,000. Redwood Wealth Management Group LLC acquired a new position in Corteva in the 2nd quarter valued at $43,000. Triad Wealth Partners LLC acquired a new position in Corteva in the 2nd quarter valued at $45,000. Finally, Bangor Savings Bank raised its holdings in Corteva by 34.7% in the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after acquiring an additional 241 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Down 0.5 %

Shares of Corteva stock opened at $59.44 on Wednesday. The company has a fifty day moving average price of $59.58 and a 200 day moving average price of $56.15. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a twelve month low of $44.01 and a twelve month high of $64.20. The stock has a market cap of $40.85 billion, a price-to-earnings ratio of 60.04, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77.

Corteva declared that its Board of Directors has approved a share repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. Corteva’s dividend payout ratio is currently 68.69%.

Wall Street Analyst Weigh In

CTVA has been the subject of several analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. KeyCorp boosted their price target on Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Royal Bank of Canada lowered their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Citigroup started coverage on shares of Corteva in a research note on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Corteva presently has a consensus 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.