Quantinno Capital Management LP Raises Stake in Corteva, Inc. (NYSE:CTVA)

Quantinno Capital Management LP lifted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 323.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,998 shares of the company's stock after purchasing an additional 63,388 shares during the period. Quantinno Capital Management LP's holdings in Corteva were worth $4,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Advisors Ltd. LLC increased its stake in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after buying an additional 174 shares in the last quarter. Cultivar Capital Inc. bought a new position in shares of Corteva in the second quarter worth about $34,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Corteva during the second quarter worth about $43,000. Triad Wealth Partners LLC bought a new stake in Corteva during the 2nd quarter valued at approximately $45,000. Finally, Chilton Capital Management LLC lifted its holdings in Corteva by 354.7% in the 2nd quarter. Chilton Capital Management LLC now owns 973 shares of the company's stock worth $52,000 after purchasing an additional 759 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTVA has been the subject of a number of research analyst reports. Royal Bank of Canada cut their price objective on shares of Corteva from $69.00 to $68.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Morgan Stanley reaffirmed an "overweight" rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Barclays lifted their price target on shares of Corteva from $58.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. UBS Group raised their price objective on Corteva from $67.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Corteva currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.06.

Corteva Trading Down 2.1 %

Shares of CTVA traded down $1.29 during midday trading on Friday, hitting $59.49. The stock had a trading volume of 2,953,720 shares, compared to its average volume of 3,762,149. The stock's 50 day moving average is $59.56 and its 200 day moving average is $56.13. The firm has a market cap of $40.89 billion, a PE ratio of 60.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a 1 year low of $44.01 and a 1 year high of $64.20.

Corteva Announces Dividend

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

Corteva declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors 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.