Vaughan Nelson Investment Management L.P. Cuts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Vaughan Nelson Investment Management L.P. cut its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,731,022 shares of the company's stock after selling 169,461 shares during the period. Corteva makes up about 1.4% of Vaughan Nelson Investment Management L.P.'s portfolio, making the stock its 18th biggest holding. Vaughan Nelson Investment Management L.P. owned approximately 0.40% of Corteva worth $155,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. KBC Group NV lifted its stake in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company's stock worth $65,851,000 after purchasing an additional 815,135 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Corteva during the 4th quarter worth $1,514,000. Charles Schwab Investment Management Inc. boosted its stake in Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company's stock valued at $265,966,000 after buying an additional 66,052 shares in the last quarter. Swedbank AB grew its position in Corteva by 51.9% in the fourth quarter. Swedbank AB now owns 695,641 shares of the company's stock valued at $39,624,000 after acquiring an additional 237,764 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Corteva by 755.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock worth $31,486,000 after acquiring an additional 488,181 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Down 1.5 %

Shares of CTVA stock traded down $0.95 during mid-day trading on Wednesday, hitting $62.02. The company's stock had a trading volume of 2,566,068 shares, compared to its average volume of 3,752,006. The company has a market cap of $42.63 billion, a PE ratio of 48.08, a P/E/G ratio of 1.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. The company's fifty day simple moving average is $60.24 and its 200-day simple moving average is $58.35. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, equities research analysts expect that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva announced that its Board of Directors has approved a share buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's dividend payout ratio (DPR) is currently 52.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price target on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday. KeyCorp raised their target price on shares of Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Barclays upped their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Royal Bank of Canada raised their price objective on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company boosted their price objective on Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $67.56.

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.