Erste Asset Management GmbH Acquires Shares of 13,800 Corteva, Inc. (NYSE:CTVA)

Erste Asset Management GmbH bought a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,800 shares of the company's stock, valued at approximately $808,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC raised its position in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock valued at $33,000 after buying an additional 174 shares in the last quarter. Cultivar Capital Inc. bought a new stake in shares of Corteva during the 2nd quarter valued at approximately $34,000. Redwood Wealth Management Group LLC bought a new stake in shares of Corteva during the 2nd quarter valued at approximately $43,000. Triad Wealth Partners LLC bought a new stake in shares of Corteva during the 2nd quarter valued at approximately $45,000. Finally, Bangor Savings Bank grew its holdings in shares of Corteva by 34.7% during the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company's stock valued at $55,000 after purchasing an additional 241 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTVA. Royal Bank of Canada decreased their price target on shares of Corteva from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Citigroup assumed coverage on shares of Corteva in a report on Wednesday, October 23rd. They set a "buy" rating and a $68.00 target price on the stock. Morgan Stanley reissued an "overweight" rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Wells Fargo & Company boosted their target price on shares of Corteva from $65.00 to $67.00 and gave the stock an "overweight" rating in a report on Wednesday, November 20th. Finally, UBS Group boosted their target price on shares of Corteva from $67.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $65.06.

Corteva Trading Down 1.3 %

NYSE:CTVA traded down $0.83 during trading hours on Wednesday, reaching $61.17. The company's stock had a trading volume of 2,407,729 shares, compared to its average volume of 3,302,805. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market capitalization of $42.04 billion, a price-to-earnings ratio of 61.79, a PEG ratio of 2.02 and a beta of 0.77. The firm has a 50-day simple moving average of $59.49 and a 200-day simple moving average of $56.08. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $64.20.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. Corteva's dividend payout ratio is currently 68.69%.

Corteva declared that its board has approved a share buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.