Welch & Forbes LLC lifted its position in Corteva, Inc. (NYSE:CTVA – Free Report) by 1,759.2% during the third quarter, HoldingsChannel.com reports. The fund owned 115,420 shares of the company’s stock after purchasing an additional 109,212 shares during the period. Welch & Forbes LLC’s holdings in Corteva were worth $8,962,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. EFG International AG acquired a new position in Corteva during the second quarter valued at approximately $25,000. Compass Financial Management LLC acquired a new stake in Corteva in the second quarter worth $25,000. Elevation Wealth Partners LLC boosted its position in shares of Corteva by 334.6% during the second quarter. Elevation Wealth Partners LLC now owns 339 shares of the company’s stock worth $29,000 after purchasing an additional 261 shares in the last quarter. Clearstead Trust LLC acquired a new position in shares of Corteva in the 2nd quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Corteva in the second quarter valued at about $33,000. Institutional investors own 81.54% of the company’s stock.
Analysts Set New Price Targets
CTVA has been the topic of several recent research reports. Mizuho lifted their price target on Corteva from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Citigroup lifted their target price on Corteva from $86.00 to $91.00 and gave the company a “neutral” rating in a research report on Thursday, September 17th. Morgan Stanley reiterated an “overweight” rating and set a $18.00 target price on shares of Corteva in a report on Friday, October 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $17.00 price target on shares of Corteva in a research report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $19.00 target price for the company in a research note on Tuesday, October 6th. Sixteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $60.59.
Check Out Our Latest Report on Corteva
Corteva Trading Up 1.8%
Shares of NYSE CTVA opened at $12.11 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. Corteva, Inc. has a 52-week low of $11.24 and a 52-week high of $90.97. The firm has a 50 day moving average price of $43.38 and a two-hundred day moving average price of $70.80. The stock has a market cap of $8.08 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58.
Corteva Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.05 dividend. This is a decrease from Corteva’s previous quarterly dividend of $0.18. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, December 1st. Corteva’s payout ratio is presently 47.68%.
Corteva Profile
Corteva, Inc is an agricultural science company that develops and supplies products and services for farmers. Its business focuses on seeds and crop protection, including technologies intended to help improve crop performance and manage weeds, insects, and plant diseases.
Its seed portfolio includes corn, soybean, and other crop varieties, sold under brands such as Pioneer and Brevant. Corteva’s crop protection offerings include herbicides, insecticides, fungicides, and biological products, alongside digital tools and services that support farm decision-making.
Corteva became an independent, publicly traded company in 2019 following the separation of DowDuPont.
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