Corteva, Inc. (NYSE:CTVA) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 6.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,809 shares of the company’s stock after selling 629 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Corteva were worth $518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTVA. M&T Bank Corp boosted its holdings in shares of Corteva by 0.8% in the 3rd quarter. M&T Bank Corp now owns 2,077,000 shares of the company’s stock valued at $122,107,000 after acquiring an additional 16,087 shares during the last quarter. TCW Group Inc. lifted its position in Corteva by 2.4% during the third quarter. TCW Group Inc. now owns 81,477 shares of the company’s stock valued at $4,790,000 after purchasing an additional 1,880 shares during the period. Toronto Dominion Bank grew its position in Corteva by 0.8% during the 3rd quarter. Toronto Dominion Bank now owns 349,596 shares of the company’s stock worth $20,553,000 after purchasing an additional 2,660 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of Corteva by 2.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 12,931 shares of the company’s stock valued at $759,000 after buying an additional 350 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Corteva by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after buying an additional 355,206 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent research reports. KeyCorp lifted their price target on Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. UBS Group boosted their target price on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays lifted their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Finally, Oppenheimer restated an “outperform” rating and issued a $70.00 price target (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $65.06.

Corteva Stock Performance

CTVA opened at $59.49 on Friday. Corteva, Inc. has a twelve month low of $44.01 and a twelve month high of $64.20. The firm has a market capitalization of $40.89 billion, a PE ratio of 60.09, a PEG ratio of 1.94 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $59.68 and its 200 day moving average price is $56.25.

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

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

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.