Corteva, Inc. (NYSE:CTVA) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,001,190 shares of the company's stock after selling 73,171 shares during the period. Bank of Montreal Can owned approximately 0.15% of Corteva worth $58,650,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. KBC Group NV lifted its stake in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company's stock valued at $65,851,000 after purchasing an additional 815,135 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Corteva by 51.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company's stock worth $6,668,000 after purchasing an additional 41,943 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Corteva by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company's stock valued at $265,966,000 after acquiring an additional 66,052 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Corteva by 16.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company's stock valued at $60,275,000 after acquiring an additional 141,898 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Corteva by 0.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company's stock valued at $12,942,000 after acquiring an additional 845 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Morgan Stanley reaffirmed an "overweight" rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Bank of America lifted their price target on shares of Corteva from $67.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective 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 decreased their target price on shares of Corteva from $69.00 to $68.00 and set an "outperform" rating for the company in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $65.06.

Corteva Price Performance

NYSE CTVA traded down $0.75 on Thursday, hitting $62.50. The company had a trading volume of 2,517,699 shares, compared to its average volume of 3,313,591. Corteva, Inc. has a 12-month low of $43.89 and a 12-month high of $64.20. The company has a market capitalization of $42.96 billion, a PE ratio of 63.13, a PEG ratio of 2.08 and a beta of 0.77. The company's fifty day moving average price is $59.07 and its 200-day moving average price is $55.90. 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 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 paid 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 1.09%. Corteva's dividend payout ratio (DPR) is presently 68.69%.

Corteva declared that its Board of Directors has approved a stock buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

Corteva Company 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.