9,069 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by Prospera Private Wealth LLC

Prospera Private Wealth LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,069 shares of the company's stock, valued at approximately $533,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corteva during the 3rd quarter worth $99,869,000. Banque Cantonale Vaudoise lifted its stake in Corteva by 234.1% during the third quarter. Banque Cantonale Vaudoise now owns 19,952 shares of the company's stock worth $1,173,000 after purchasing an additional 13,981 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in Corteva by 13.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 10,101 shares of the company's stock valued at $594,000 after purchasing an additional 1,172 shares in the last quarter. Prospera Financial Services Inc lifted its position in shares of Corteva by 3.5% during the 3rd quarter. Prospera Financial Services Inc now owns 6,687 shares of the company's stock worth $393,000 after buying an additional 226 shares during the last quarter. Finally, Pathstone Holdings LLC lifted its position in Corteva by 3.0% in the third quarter. Pathstone Holdings LLC now owns 98,919 shares of the company's stock valued at $5,815,000 after acquiring an additional 2,846 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTVA. Oppenheimer reiterated an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Morgan Stanley reiterated an "overweight" rating and set a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Citigroup initiated coverage on shares of Corteva in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $68.00 price objective on the stock. Royal Bank of Canada lowered their price target on Corteva from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Corteva from $57.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Corteva presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.26.

Corteva Trading Up 3.7 %

NYSE CTVA traded up $2.16 during mid-day trading on Thursday, hitting $60.92. The company's stock had a trading volume of 3,112,704 shares, compared to its average volume of 3,283,936. 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 firm has a market capitalization of $41.87 billion, a P/E ratio of 59.36, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77. The stock's fifty day simple moving average is $58.49 and its two-hundred day simple moving average is $55.72. Corteva, Inc. has a 52-week low of $43.89 and a 52-week high of $63.75.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.17 per share. 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 1.12%. Corteva's dividend payout ratio is currently 68.69%.

Corteva announced that its board has authorized a stock buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase programs 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.