GenTrust LLC Increases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

GenTrust LLC grew its position in Corteva, Inc. (NYSE:CTVA) by 15.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,368 shares of the company’s stock after purchasing an additional 574 shares during the period. GenTrust LLC’s holdings in Corteva were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in Corteva in the 1st quarter worth approximately $25,000. Capital Advisors Ltd. LLC grew its position in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares during the period. Cultivar Capital Inc. acquired a new position in Corteva in the second quarter valued at $34,000. Redwood Wealth Management Group LLC purchased a new position in Corteva during the second quarter worth about $43,000. Finally, Triad Wealth Partners LLC acquired a new stake in Corteva in the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada lowered their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Finally, KeyCorp upped their price target on Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.33.

Corteva Stock Up 0.8 %

Shares of NYSE CTVA opened at $61.23 on Friday. 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 stock has a fifty day moving average price of $58.69 and a 200 day moving average price of $55.77. Corteva, Inc. has a 12-month low of $43.89 and a 12-month high of $63.75. The company has a market cap of $42.08 billion, a P/E ratio of 61.85, a P/E/G ratio of 1.97 and a beta of 0.77.

Corteva announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. 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.