Haverford Trust Co lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA – Free Report) by 5.6% in the third quarter, Holdings Channel.com reports. The fund owned 67,288 shares of the company’s stock after selling 3,982 shares during the quarter. Haverford Trust Co’s holdings in Corteva were worth $3,956,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of CTVA. Acadian Asset Management LLC bought a new stake in Corteva during the 1st quarter valued at $25,000. Capital Advisors Ltd. LLC raised its position in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. bought a new stake in Corteva during the 2nd quarter valued at $34,000. Redwood Wealth Management Group LLC bought a new stake in Corteva during the 2nd quarter valued at $43,000. Finally, Triad Wealth Partners LLC bought a new stake in Corteva during the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CTVA shares. UBS Group lifted their target price on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup assumed coverage on Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target for the company. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Finally, Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.68.
Corteva Stock Up 1.0 %
Shares of CTVA opened at $57.69 on Thursday. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $63.75. 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 company has a market capitalization of $39.65 billion, a price-to-earnings ratio of 58.27, a PEG ratio of 1.83 and a beta of 0.77. The stock’s 50-day moving average price is $58.25 and its 200-day moving average price is $55.64.
Corteva Announces Dividend
The business 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 of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.18%. Corteva’s payout ratio is 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.
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