3,556 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by Graypoint LLC

Graypoint LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,556 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds have also bought and sold shares of CTVA. Capital Advisors Ltd. LLC increased its position 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 acquiring an additional 174 shares during the period. Redwood Wealth Management Group LLC acquired a new stake in Corteva during the second quarter worth about $43,000. Bangor Savings Bank grew its stake in Corteva by 34.7% during the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after buying an additional 241 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Corteva during the third quarter worth about $56,000. Finally, Pinnacle Bancorp Inc. grew its stake in Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after buying an additional 199 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Down 0.2 %

NYSE:CTVA opened at $57.04 on Monday. The firm’s 50 day simple moving average is $58.88 and its 200 day simple moving average is $56.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a one year low of $44.01 and a one year high of $64.20. The company has a market cap of $39.20 billion, a PE ratio of 57.62, a P/E/G ratio of 1.94 and a beta of 0.77.

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

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.17 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.19%. Corteva’s payout ratio is 68.69%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTVA. Barclays increased their price objective on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Wells Fargo & Company increased their price objective 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. Citigroup reduced their price target on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada raised their price target on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, UBS Group reduced their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.47.

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.