Private Advisor Group LLC Purchases 313 Shares of Corteva, Inc. (NYSE:CTVA)

Private Advisor Group LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 1.1% during the third quarter, HoldingsChannel reports. The fund owned 28,482 shares of the company’s stock after buying an additional 313 shares during the quarter. Private Advisor Group LLC’s holdings in Corteva were worth $1,674,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTVA. Capital International Investors increased its position in shares of Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after buying an additional 678,722 shares during the period. Bank of New York Mellon Corp increased its position in shares of Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after buying an additional 1,514,954 shares during the period. Legal & General Group Plc increased its position in shares of Corteva by 0.9% during the second quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock valued at $363,662,000 after buying an additional 61,127 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Corteva by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock valued at $250,786,000 after buying an additional 224,423 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Corteva by 392.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after buying an additional 3,254,126 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $61.57 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $62.38. The stock has a 50 day moving average price of $57.56 and a two-hundred day moving average price of $55.29. The company has a market capitalization of $42.91 billion, a P/E ratio of 77.94, a PEG ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. Analysts expect that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.10%. Corteva’s payout ratio is currently 86.08%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTVA. Argus cut Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. Citigroup assumed coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.84.

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.