9,991 Shares in Corteva, Inc. (NYSE:CTVA) Acquired by Quest Partners LLC

Quest Partners LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 9,991 shares of the company’s stock, valued at approximately $587,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in Corteva in the 1st quarter worth $25,000. Gabelli Funds LLC increased its holdings in Corteva by 6.9% during the 1st quarter. Gabelli Funds LLC now owns 46,636 shares of the company’s stock valued at $2,689,000 after purchasing an additional 3,000 shares during the period. Magnetar Financial LLC increased its holdings in Corteva by 751.3% during the 1st quarter. Magnetar Financial LLC now owns 56,996 shares of the company’s stock valued at $3,287,000 after purchasing an additional 50,301 shares during the period. BOKF NA lifted its holdings in Corteva by 4.1% in the 1st quarter. BOKF NA now owns 133,988 shares of the company’s stock worth $7,728,000 after buying an additional 5,229 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Corteva by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 983,916 shares of the company’s stock worth $56,743,000 after buying an additional 4,498 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 0.8 %

Shares of Corteva stock opened at $61.23 on Friday. The company has a 50-day simple moving average of $58.69 and a two-hundred day simple moving average of $55.79. The stock has a market capitalization of $42.08 billion, a PE ratio of 61.85, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77. Corteva, Inc. has a 52-week low of $43.89 and a 52-week high of $63.75. 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 announced that its Board of Directors has approved a share repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently announced 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. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is 68.69%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTVA. Bank of America raised their price target on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reduced their price target on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Morgan Stanley restated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Finally, Barclays upped their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.33.

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.