Corteva, Inc. (NYSE:CTVA) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC grew its holdings in Corteva, Inc. (NYSE:CTVA) by 62.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,957 shares of the company’s stock after acquiring an additional 2,665 shares during the period. Larson Financial Group LLC’s holdings in Corteva were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CTVA. Van ECK Associates Corp lifted its stake in Corteva by 2.5% in the third quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company’s stock worth $541,194,000 after acquiring an additional 213,872 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Corteva by 28.4% during the 2nd 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 last quarter. Legal & General Group Plc increased its holdings in Corteva by 0.9% in the second quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock valued at $363,662,000 after buying an additional 61,127 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Corteva by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock valued at $250,786,000 after buying an additional 224,423 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Corteva by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after acquiring an additional 66,052 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada dropped their price target on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Wells Fargo & Company upped their price objective on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Morgan Stanley restated an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Citigroup assumed coverage on Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target for the company. Finally, KeyCorp boosted their price objective on shares of Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

Corteva Stock Down 1.4 %

Shares of NYSE CTVA opened at $63.26 on Wednesday. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $64.20. The firm has a market cap of $43.48 billion, a P/E ratio of 63.90, a price-to-earnings-growth ratio of 1.99 and a beta of 0.77. The firm’s 50 day moving average price is $58.97 and its 200 day moving average price is $55.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given 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 (DPR) is presently 68.69%.

Corteva declared that its board has approved a share buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

About Corteva

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.