Corteva, Inc. (NYSE:CTVA) Position Raised by Prospera Financial Services Inc

Prospera Financial Services Inc boosted its position in Corteva, Inc. (NYSE:CTVA) by 3.5% in the third quarter, HoldingsChannel.com reports. The firm owned 6,687 shares of the company’s stock after purchasing an additional 226 shares during the quarter. Prospera Financial Services Inc’s holdings in Corteva were worth $393,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of Corteva in the 1st quarter worth approximately $25,000. Capital Advisors Ltd. LLC grew its position in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares during the last quarter. Cultivar Capital Inc. bought a new position in shares of Corteva in the second quarter valued at $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva during the 2nd quarter valued at $43,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Corteva during the 2nd quarter worth $45,000. 81.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CTVA shares. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Bank of America boosted their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Royal Bank of Canada decreased their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.33.

Corteva Stock Up 0.8 %

Shares of CTVA stock opened at $61.23 on Monday. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a fifty day moving average price of $58.69 and a 200 day moving average price of $55.77. The stock has a market cap of $42.08 billion, a P/E ratio of 61.85, a price-to-earnings-growth ratio of 1.97 and a beta of 0.77.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.11%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

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

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.