Vaughan Nelson Investment Management L.P. Cuts Stock Position in Corteva, Inc. (NYSE:CTVA)

Vaughan Nelson Investment Management L.P. decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 29.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,900,483 shares of the company’s stock after selling 1,183,202 shares during the period. Corteva accounts for 1.5% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 17th biggest position. Vaughan Nelson Investment Management L.P. owned 0.42% of Corteva worth $170,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CTVA. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the first quarter worth $25,000. Capital Advisors Ltd. LLC lifted its position in 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 during the period. Cultivar Capital Inc. purchased a new stake in Corteva during the 2nd quarter valued at about $34,000. Redwood Wealth Management Group LLC acquired a new position in shares of Corteva in the second quarter valued at about $43,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Corteva in the second quarter worth about $45,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CTVA shares. Barclays upped their target price on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Citigroup began coverage on shares of Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada reduced their price objective on Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.68.

Corteva Stock Performance

NYSE:CTVA opened at $55.21 on Friday. Corteva, Inc. has a twelve month low of $43.89 and a twelve month high of $63.75. The company has a market cap of $37.95 billion, a P/E ratio of 55.77, a P/E/G ratio of 1.85 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $58.34 and its 200-day moving average price is $55.67.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. Corteva’s dividend payout ratio is presently 68.69%.

About Corteva

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.