Dearborn Partners LLC Boosts Holdings in Corteva, Inc. (NYSE:CTVA)

Dearborn Partners LLC raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 47.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,034 shares of the company’s stock after buying an additional 3,247 shares during the period. Dearborn Partners LLC’s holdings in Corteva were worth $590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC purchased a new position in Corteva in the first quarter valued at $25,000. Capital Advisors Ltd. LLC increased its stake in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. acquired a new position in Corteva in the 2nd quarter worth about $34,000. Redwood Wealth Management Group LLC purchased a new position in Corteva during the second quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC acquired a new stake in Corteva in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CTVA shares. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. UBS Group boosted their price objective on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.68.

Corteva Trading Down 3.9 %

Shares of Corteva stock opened at $55.19 on Friday. The stock has a 50 day moving average of $58.34 and a 200 day moving average of $55.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $37.93 billion, a price-to-earnings ratio of 55.74, a PEG ratio of 1.85 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.89 and a fifty-two week high of $63.75.

Corteva Announces Dividend

The firm also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio 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.