Equitable Trust Co. Buys 4,822 Shares of Corteva, Inc. (NYSE:CTVA)

Equitable Trust Co. raised its position in Corteva, Inc. (NYSE:CTVA) by 96.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,812 shares of the company’s stock after buying an additional 4,822 shares during the quarter. Equitable Trust Co.’s holdings in Corteva were worth $577,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in shares of Corteva in the 1st quarter valued at about $25,000. Capital Advisors Ltd. LLC grew its stake in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in Corteva in the 2nd quarter valued at about $34,000. Redwood Wealth Management Group LLC purchased a new position in Corteva in the second quarter worth $43,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Corteva in the 2nd quarter worth about $45,000. 81.54% of the stock is owned by institutional investors.

Corteva Trading Down 0.5 %

Shares of CTVA opened at $58.33 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $58.19 and a 200 day moving average price of $55.59. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $63.75. The firm has a market capitalization of $40.38 billion, a P/E ratio of 58.92, a P/E/G ratio of 1.78 and a beta of 0.77.

Corteva Announces Dividend

The business also recently declared 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is 68.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company cut their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. UBS Group upped their target price on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup initiated coverage on Corteva in a research report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target on the stock. Barclays raised their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $63.47.

About Corteva

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.