Swedbank AB Buys 69,782 Shares of Corteva, Inc. (NYSE:CTVA)

Swedbank AB boosted its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 18.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 457,877 shares of the company's stock after purchasing an additional 69,782 shares during the period. Swedbank AB owned 0.07% of Corteva worth $26,919,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CTVA. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the first quarter worth approximately $25,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Corteva by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 983,916 shares of the company's stock valued at $56,743,000 after acquiring an additional 4,498 shares in the last quarter. Mount Yale Investment Advisors LLC increased its stake in shares of Corteva by 64.6% in the first quarter. Mount Yale Investment Advisors LLC now owns 9,026 shares of the company's stock worth $521,000 after acquiring an additional 3,544 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its holdings in shares of Corteva by 25.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 4,088 shares of the company's stock worth $236,000 after acquiring an additional 830 shares in the last quarter. Finally, Ancora Advisors LLC boosted its position in Corteva by 13.6% during the first quarter. Ancora Advisors LLC now owns 18,606 shares of the company's stock valued at $1,073,000 after purchasing an additional 2,225 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTVA has been the topic of several research reports. Barclays upped their target price on Corteva from $58.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Morgan Stanley reaffirmed an "overweight" rating and set a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. 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 research report on Thursday, November 7th. Argus downgraded shares of Corteva from a "buy" rating to a "hold" rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Corteva from $57.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $64.33.

Corteva Price Performance

Shares of Corteva stock traded down $0.87 during midday trading on Tuesday, hitting $63.26. 3,893,656 shares of the company were exchanged, compared to its average volume of 3,316,781. The firm has a 50 day simple moving average of $58.84 and a 200-day simple moving average of $55.81. 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 cap of $43.48 billion, a P/E ratio of 63.82, a PEG ratio of 1.99 and a beta of 0.77. 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 disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 annualized dividend and a yield of 1.07%. Corteva's dividend payout ratio is 68.69%.

Corteva announced that its Board of Directors has authorized a share buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is 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.