Steigerwald Gordon & Koch Inc. cut its holdings in shares of Corteva, Inc. (NYSE:CTVA – Free Report) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,209 shares of the company’s stock after selling 508 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in Corteva were worth $3,600,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the business. Capital Advisors Ltd. LLC increased its holdings 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 buying an additional 174 shares during the last quarter. First Financial Corp IN acquired a new position in shares of Corteva during the 4th quarter worth about $35,000. Bangor Savings Bank raised its holdings in shares of 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 purchasing an additional 241 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Corteva in the 3rd quarter valued at about $56,000. Finally, Pinnacle Bancorp Inc. grew its holdings in Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after purchasing an additional 199 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CTVA has been the subject of a number of recent analyst reports. KeyCorp cut their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company raised their price target on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Citigroup decreased their price objective on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada raised their target price on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. One equities research 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. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.47.
Corteva Stock Up 1.1 %
Shares of NYSE:CTVA opened at $62.30 on Friday. 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 company has a market capitalization of $42.82 billion, a PE ratio of 62.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.77. Corteva, Inc. has a 52-week low of $44.01 and a 52-week high of $64.20. The company has a fifty day moving average of $58.96 and a 200-day moving average of $57.06.
Corteva Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.17 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s dividend payout ratio is presently 68.69%.
Corteva announced that its Board of Directors has approved a stock buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors 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.
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