Vaughan Nelson Investment Management L.P. Sells 1,183,202 Shares of Corteva, Inc. (NYSE:CTVA)

Vaughan Nelson Investment Management L.P. trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 29.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,900,483 shares of the company's stock after selling 1,183,202 shares during the quarter. Corteva comprises approximately 1.5% of Vaughan Nelson Investment Management L.P.'s investment portfolio, making the stock its 17th biggest position. Vaughan Nelson Investment Management L.P. owned about 0.42% of Corteva worth $170,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Anomaly Capital Management LP acquired a new position in shares of Corteva in the second quarter valued at about $188,578,000. Bank of New York Mellon Corp increased its holdings in shares of Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company's stock worth $369,106,000 after purchasing an additional 1,514,954 shares during the period. Panagora Asset Management Inc. raised its position in shares of Corteva by 700.2% in the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company's stock valued at $70,230,000 after buying an additional 1,139,297 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Corteva by 155.7% in the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company's stock valued at $91,389,000 after buying an additional 1,031,678 shares during the period. Finally, Bank of Montreal Can grew its position in Corteva by 370.6% during the second quarter. Bank of Montreal Can now owns 1,074,361 shares of the company's stock worth $57,951,000 after buying an additional 846,065 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Trading Down 3.8 %

CTVA traded down $2.20 during trading on Friday, reaching $55.21. 5,636,720 shares of the company's stock were exchanged, compared to its average volume of 3,186,660. The stock has a market capitalization of $37.95 billion, a PE ratio of 55.77, a price-to-earnings-growth ratio of 1.77 and a beta of 0.77. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75. The firm has a fifty day moving average price of $58.34 and a two-hundred day moving average price of $55.67. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 1.23%. Corteva's dividend payout ratio (DPR) is presently 68.69%.

Analyst Ratings Changes

Several brokerages have weighed in on CTVA. Royal Bank of Canada dropped their price objective on Corteva from $69.00 to $68.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Argus cut shares of Corteva from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Barclays increased their price objective on shares of Corteva from $58.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. KeyCorp dropped their target price on shares of Corteva from $66.00 to $62.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. Finally, Citigroup started coverage on shares of Corteva in a research report on Wednesday, October 23rd. They set a "buy" rating and a $68.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $63.68.

Corteva Company 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.