Kovitz Investment Group Partners LLC Increases Stake in Corteva, Inc. (NYSE:CTVA)

Kovitz Investment Group Partners LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 15.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,310 shares of the company's stock after acquiring an additional 12,036 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Corteva were worth $4,748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CTVA. KBC Group NV increased its stake in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company's stock worth $65,851,000 after purchasing an additional 815,135 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Corteva by 51.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company's stock valued at $6,668,000 after acquiring an additional 41,943 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Corteva by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company's stock worth $265,966,000 after purchasing an additional 66,052 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Corteva by 16.1% during the third quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company's stock worth $60,275,000 after purchasing an additional 141,898 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its position in Corteva by 468.8% in the third quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company's stock worth $2,656,000 after acquiring an additional 37,239 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research analyst reports. Morgan Stanley restated an "overweight" rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Citigroup assumed coverage on Corteva in a research note on Wednesday, October 23rd. They set a "buy" rating and a $68.00 price objective on the stock. UBS Group increased their price objective on Corteva from $67.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Oppenheimer reaffirmed an "outperform" rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, Bank of America raised their price target on Corteva from $67.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $65.06.

Corteva Stock Up 0.4 %

Shares of CTVA traded up $0.25 during trading hours on Monday, reaching $59.74. 3,394,393 shares of the stock traded hands, compared to its average volume of 3,298,227. Corteva, Inc. has a 52 week low of $44.01 and a 52 week high of $64.20. The stock has a fifty day simple moving average of $59.58 and a 200 day simple moving average of $56.15. 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 has a market cap of $41.06 billion, a price-to-earnings ratio of 60.34, a PEG ratio of 1.93 and a beta of 0.77.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Monday, December 2nd. Corteva's payout ratio is 68.69%.

Corteva declared that its board has initiated a stock buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes 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 board believes its shares are undervalued.

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.