Linscomb Wealth Inc. Decreases Stake in Corteva, Inc. (NYSE:CTVA)

Linscomb Wealth Inc. cut its position in Corteva, Inc. (NYSE:CTVA) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,861 shares of the company’s stock after selling 1,535 shares during the period. Linscomb Wealth Inc.’s holdings in Corteva were worth $4,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CTVA. Acadian Asset Management LLC acquired a new stake in Corteva in the first quarter valued at $25,000. Capital Advisors Ltd. LLC raised its position in shares of Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in Corteva during the second quarter worth approximately $34,000. Redwood Wealth Management Group LLC acquired a new position in Corteva in the second quarter valued at approximately $43,000. Finally, Triad Wealth Partners LLC purchased a new position in Corteva in the second quarter valued at approximately $45,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTVA. Citigroup assumed coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price for the company. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Finally, Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $63.68.

Corteva Trading Down 2.8 %

NYSE CTVA traded down $1.62 during mid-day trading on Friday, hitting $55.79. The company’s stock had a trading volume of 1,184,988 shares, compared to its average volume of 3,247,846. 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 52-week low of $43.89 and a 52-week high of $63.75. The stock’s fifty day simple moving average is $58.34 and its two-hundred day simple moving average is $55.67. The firm has a market capitalization of $38.34 billion, a P/E ratio of 57.57, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. Corteva’s dividend payout ratio (DPR) is 68.69%.

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.