LifePlan Financial LLC grew its stake in Corteva, Inc. (NYSE:CTVA – Free Report) by 57.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,602 shares of the company’s stock after buying an additional 4,937 shares during the period. LifePlan Financial LLC’s holdings in Corteva were worth $775,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Roble Belko & Company Inc boosted its holdings in Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after acquiring an additional 166 shares during the period. Rovin Capital UT ADV boosted its stake in shares of Corteva by 1.3% during the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after purchasing an additional 168 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. Proffitt & Goodson Inc. increased its stake in shares of Corteva by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after buying an additional 174 shares during the period. Finally, Pinnacle Bancorp Inc. raised its holdings in Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after buying an additional 199 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.
Corteva Stock Up 1.1 %
Shares of Corteva stock opened at $62.30 on Tuesday. Corteva, Inc. has a twelve month low of $44.01 and a twelve month high of $64.20. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $59.03 and its 200 day moving average is $57.19. The company has a market cap of $42.82 billion, a price-to-earnings ratio of 62.93, a price-to-earnings-growth ratio of 1.62 and a beta of 0.77.
Corteva Dividend Announcement
Corteva declared that its board has authorized a stock buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Morgan Stanley restated an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Bank of America upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Barclays lifted their target price on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating 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 issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.47.
Get Our Latest Research Report on Corteva
Corteva 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.
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