Oak Thistle LLC Invests $1.51 Million in Corteva, Inc. (NYSE:CTVA)

Oak Thistle LLC bought a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the 4th quarter, HoldingsChannel reports. The firm bought 26,575 shares of the company’s stock, valued at approximately $1,514,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC raised its holdings in Corteva by 44.4% during 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 during the period. First Financial Corp IN purchased a new position in shares of Corteva in the fourth quarter worth approximately $35,000. Bangor Savings Bank raised its holdings in shares of Corteva by 34.7% during the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after acquiring an additional 241 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Corteva in the 3rd quarter valued at approximately $56,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Corteva by 26.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after purchasing an additional 199 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Up 1.4 %

Shares of CTVA stock opened at $60.79 on Wednesday. The firm has a fifty day moving average of $58.83 and a 200-day moving average of $56.93. The stock has a market cap of $41.78 billion, a price-to-earnings ratio of 61.40, a P/E/G ratio of 1.93 and a beta of 0.77. Corteva, Inc. has a 52-week low of $44.01 and a 52-week high of $64.20. 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 announced that its board has authorized a stock repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio is 68.69%.

Analyst Ratings Changes

CTVA has been the subject of a number of research analyst reports. UBS Group reduced their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. Barclays lifted their target price on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Finally, Citigroup lowered their price objective on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.47.

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.