Corteva, Inc. (NYSE:CTVA) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,875,589 shares of the company’s stock after selling 149,031 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.56% of Corteva worth $227,846,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Anomaly Capital Management LP bought a new position in Corteva during the second quarter worth $188,578,000. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Corteva by 392.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after buying an additional 3,254,126 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Corteva during the 3rd quarter valued at about $99,869,000. Bank of New York Mellon Corp raised its stake in Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after acquiring an additional 1,514,954 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Corteva by 700.2% in the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after acquiring an additional 1,139,297 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research reports. Argus cut Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Barclays raised 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. KeyCorp increased 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. 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. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $65.06.

Corteva Price Performance

Shares of NYSE CTVA opened at $62.26 on Friday. The firm has a 50-day moving average of $59.24 and a two-hundred day moving average of $55.98. The company has a market capitalization of $42.79 billion, a price-to-earnings ratio of 62.89, a PEG ratio of 2.03 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. Corteva, Inc. has a twelve month low of $43.89 and a twelve month high of $64.20.

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 issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is 68.69%.

Corteva announced that its Board of Directors has approved a share repurchase 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are 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.