Daiwa Securities Group Inc. Has $6.34 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Daiwa Securities Group Inc. lifted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 9.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,810 shares of the company's stock after purchasing an additional 8,906 shares during the period. Daiwa Securities Group Inc.'s holdings in Corteva were worth $6,338,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Acadian Asset Management LLC bought a new position in Corteva during the first quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its stake in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock valued at $33,000 after acquiring an additional 174 shares during the period. Cultivar Capital Inc. bought a new stake in shares of Corteva in the 2nd quarter valued at approximately $34,000. Redwood Wealth Management Group LLC bought a new stake in shares of Corteva in the 2nd quarter valued at approximately $43,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Corteva in the 2nd quarter valued at approximately $45,000. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CTVA shares. Oppenheimer reiterated an "outperform" rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. Royal Bank of Canada reduced their price objective on Corteva from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Wells Fargo & Company upped their price objective on Corteva from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Bank of America upped their price objective on Corteva from $67.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Finally, Barclays upped their price objective on Corteva from $58.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.33.

Corteva Trading Down 1.4 %

Shares of CTVA traded down $0.87 during trading hours on Tuesday, reaching $63.26. The stock had a trading volume of 3,959,088 shares, compared to its average volume of 3,317,066. The firm has a 50-day moving average of $58.84 and a 200 day moving average of $55.81. The company has a market cap of $43.48 billion, a P/E ratio of 63.82, a P/E/G ratio of 1.99 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $64.20.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva's dividend payout ratio (DPR) is presently 68.69%.

Corteva declared that its board has initiated a share buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are 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.