Captrust Financial Advisors Has $5.42 Million Position in Corteva, Inc. (NYSE:CTVA)

Captrust Financial Advisors cut its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,117 shares of the company's stock after selling 15,526 shares during the period. Captrust Financial Advisors' holdings in Corteva were worth $5,416,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV lifted its position in shares of Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company's stock valued at $65,851,000 after acquiring an additional 815,135 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Corteva by 51.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company's stock worth $6,668,000 after buying an additional 41,943 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Corteva by 1.5% in the third 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 during the period. Thrivent Financial for Lutherans increased its stake in shares of Corteva by 16.1% in the third quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company's stock valued at $60,275,000 after buying an additional 141,898 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Corteva by 0.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company's stock valued at $12,942,000 after purchasing an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Trading Down 0.4 %

NYSE CTVA traded down $0.24 during mid-day trading on Tuesday, reaching $61.99. 2,630,953 shares of the stock were exchanged, compared to its average volume of 3,855,735. The stock has a market capitalization of $42.61 billion, a PE ratio of 62.62, a PEG ratio of 2.02 and a beta of 0.77. The business's fifty day simple moving average is $59.41 and its 200 day simple moving average is $56.04. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $64.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva declared that its board has authorized a share repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva's dividend payout ratio (DPR) is presently 68.69%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTVA. Argus downgraded Corteva from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. UBS Group increased their target price on Corteva from $67.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Citigroup started coverage on Corteva in a report on Wednesday, October 23rd. They set a "buy" rating and a $68.00 price target on the stock. Royal Bank of Canada reduced their price objective on shares of Corteva from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Monday, November 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Corteva from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $65.06.

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.