Pathstone Holdings LLC Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

Pathstone Holdings LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,919 shares of the company’s stock after buying an additional 2,846 shares during the quarter. Pathstone Holdings LLC’s holdings in Corteva were worth $5,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTVA. Acadian Asset Management LLC purchased a new position in shares of Corteva during the 1st quarter worth $25,000. Capital Advisors Ltd. LLC raised its stake 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 purchasing an additional 174 shares during the period. Cultivar Capital Inc. acquired a new position in Corteva in the 2nd quarter valued at about $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva during the 2nd quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Corteva during the 2nd quarter valued at approximately $45,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $61.23 on Friday. The business has a 50-day simple moving average of $58.69 and a 200-day simple moving average of $55.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75. The company has a market cap of $42.08 billion, a PE ratio of 61.85, a P/E/G ratio of 1.87 and a beta of 0.77.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Corteva announced that its board has initiated a stock buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CTVA shares. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. Wells Fargo & Company boosted their price objective on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup began coverage on shares of Corteva in a research note on Wednesday, October 23rd. They set a “buy” rating and a $68.00 target price for the company. Finally, Bank of America boosted their price target on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $64.33.

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.