Corteva, Inc. (NYSE:CTVA) Stake Decreased by Triangle Securities Wealth Management

Triangle Securities Wealth Management cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,424 shares of the company’s stock after selling 437 shares during the period. Triangle Securities Wealth Management’s holdings in Corteva were worth $1,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTVA. Capital Advisors Ltd. LLC increased its stake in shares of Corteva by 44.4% during the third 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 period. First Financial Corp IN acquired a new position in Corteva during the fourth quarter worth about $35,000. Bangor Savings Bank raised its position in Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after acquiring an additional 241 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Corteva in the 3rd quarter valued at about $56,000. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after purchasing an additional 199 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 1.1 %

Corteva stock opened at $62.30 on Friday. Corteva, Inc. has a 52 week low of $44.01 and a 52 week high of $64.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $42.82 billion, a PE ratio of 62.93, a PEG ratio of 1.49 and a beta of 0.77. The business’s 50-day simple moving average is $58.96 and its 200-day simple moving average is $57.06.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Corteva announced that its board has initiated a share repurchase plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays increased their price objective on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Citigroup dropped their target price on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company upped their price target on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Finally, KeyCorp decreased their price objective on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.47.

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.