Corteva, Inc. (NYSE:CTVA) Stake Boosted by Moors & Cabot Inc.

Moors & Cabot Inc. increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,346 shares of the company’s stock after purchasing an additional 726 shares during the period. Moors & Cabot Inc.’s holdings in Corteva were worth $2,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Corteva during the first quarter worth $25,000. Capital Advisors Ltd. LLC lifted its stake in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. Cultivar Capital Inc. bought a new stake in Corteva in the second quarter valued at $34,000. Redwood Wealth Management Group LLC bought a new stake in Corteva in the second quarter valued at $43,000. Finally, Triad Wealth Partners LLC bought a new stake in Corteva in the second quarter valued at $45,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTVA shares. KeyCorp cut their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America raised their target price on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays raised their price target on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. 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. Finally, Oppenheimer reissued an “outperform” rating and set a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.89.

Corteva Trading Up 0.9 %

Shares of CTVA opened at $58.77 on Thursday. The business’s 50-day moving average price is $58.49 and its 200 day moving average price is $55.72. The stock has a market capitalization of $40.39 billion, a P/E ratio of 59.36, a P/E/G ratio of 1.77 and a beta of 0.77. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $63.75. 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 declared that its Board of Directors has authorized a share buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding 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 a sign that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 1.16%. Corteva’s dividend payout ratio is currently 68.69%.

Corteva Company 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.