Prospera Financial Services Inc Boosts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Prospera Financial Services Inc grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,687 shares of the company’s stock after buying an additional 226 shares during the period. Prospera Financial Services Inc’s holdings in Corteva were worth $393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathstone Holdings LLC increased its position in Corteva by 3.0% during the 3rd quarter. Pathstone Holdings LLC now owns 98,919 shares of the company’s stock worth $5,815,000 after purchasing an additional 2,846 shares in the last quarter. Strengthening Families & Communities LLC lifted its holdings in shares of Corteva by 8.5% during the 3rd quarter. Strengthening Families & Communities LLC now owns 42,983 shares of the company’s stock valued at $2,527,000 after acquiring an additional 3,364 shares in the last quarter. Quest Partners LLC purchased a new stake in Corteva during the 3rd quarter worth $587,000. Thrivent Financial for Lutherans increased its holdings in Corteva by 16.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock valued at $60,275,000 after purchasing an additional 141,898 shares in the last quarter. Finally, Chesapeake Capital Corp IL purchased a new position in Corteva in the third quarter valued at about $938,000. 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 research reports. Oppenheimer reiterated an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, Barclays upped their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

Corteva Trading Up 0.8 %

NYSE CTVA opened at $61.23 on Monday. 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 50-day simple moving average of $58.69 and a 200-day simple moving average of $55.77. The firm has a market capitalization of $42.08 billion, a PE ratio of 61.85, a price-to-earnings-growth ratio of 1.97 and a beta of 0.77.

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

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. Corteva’s payout ratio is currently 68.69%.

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.