Kingsview Wealth Management LLC Buys 37,239 Shares of Corteva, Inc. (NYSE:CTVA)

Kingsview Wealth Management LLC boosted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 468.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,182 shares of the company's stock after acquiring an additional 37,239 shares during the quarter. Kingsview Wealth Management LLC's holdings in Corteva were worth $2,656,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in shares of Corteva in the 1st quarter valued at $25,000. Capital Advisors Ltd. LLC increased its stake in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock valued at $33,000 after buying an additional 174 shares during the period. Cultivar Capital Inc. bought a new position in Corteva in the 2nd quarter valued at approximately $34,000. Redwood Wealth Management Group LLC acquired a new stake in Corteva during the 2nd quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC acquired a new position in Corteva in the 2nd quarter valued at approximately $45,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several analyst reports. Argus cut shares of Corteva from a "buy" rating to a "hold" rating in a research note on Wednesday, August 7th. Bank of America upped their target price on Corteva from $67.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on shares of Corteva from $57.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. UBS Group increased their price objective on shares of Corteva from $67.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada cut their price target on shares of Corteva from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and a consensus target price of $64.33.

Corteva Stock Performance

Shares of NYSE CTVA traded up $2.89 during midday trading on Monday, reaching $64.12. The company's stock had a trading volume of 9,733,816 shares, compared to its average volume of 3,314,251. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $44.07 billion, a P/E ratio of 61.85, a PEG ratio of 1.99 and a beta of 0.77. The firm has a 50 day moving average price of $58.69 and a 200-day moving average price of $55.77. Corteva, Inc. has a 12-month low of $43.89 and a 12-month high of $64.20.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.06%. Corteva's payout ratio is currently 68.69%.

Corteva declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are 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.