Great Valley Advisor Group Inc. Purchases New Position in Corteva, Inc. (NYSE:CTVA)

Great Valley Advisor Group Inc. acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,440 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GenTrust LLC grew its position in shares of Corteva by 15.1% during the third quarter. GenTrust LLC now owns 4,368 shares of the company’s stock worth $257,000 after acquiring an additional 574 shares during the last quarter. Icon Wealth Advisors LLC grew its position in Corteva by 236.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 25,046 shares of the company’s stock worth $1,472,000 after purchasing an additional 17,596 shares during the last quarter. Raymond James Trust N.A. increased its stake in Corteva by 16.3% in the third quarter. Raymond James Trust N.A. now owns 41,587 shares of the company’s stock valued at $2,445,000 after purchasing an additional 5,829 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after buying an additional 66,052 shares during the last quarter. Finally, Tradewinds LLC. boosted its stake in shares of Corteva by 23.2% during the third quarter. Tradewinds LLC. now owns 6,203 shares of the company’s stock worth $365,000 after buying an additional 1,168 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Corteva stock opened at $62.50 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $59.15 and its 200 day simple moving average is $55.94. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $64.20. The firm has a market capitalization of $42.96 billion, a PE ratio of 63.13, a P/E/G ratio of 2.08 and a beta of 0.77.

Corteva declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Corteva Announces Dividend

The firm 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 $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analyst Upgrades and Downgrades

CTVA has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Bank of America increased their price target on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Royal Bank of Canada dropped their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. UBS Group raised their target price on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.06.

Corteva 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.