King Luther Capital Management Corp Has $26.50 Million Holdings in Corteva, Inc. (NYSE:CTVA)

King Luther Capital Management Corp decreased its stake in Corteva, Inc. (NYSE:CTVA) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 450,680 shares of the company’s stock after selling 2,892 shares during the period. King Luther Capital Management Corp’s holdings in Corteva were worth $26,495,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CTVA. Rovin Capital UT ADV grew its stake in Corteva by 1.3% during the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after buying an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares during the last quarter. Proffitt & Goodson Inc. increased its holdings in Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock valued at $472,000 after purchasing an additional 174 shares in the last quarter. Pinnacle Bancorp Inc. raised its position in Corteva by 26.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after purchasing an additional 199 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV raised its position in Corteva by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after purchasing an additional 203 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CTVA. Oppenheimer reissued an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. KeyCorp increased their price target on shares of Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays upped their price objective on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada dropped their target price on Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued 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 $64.26.

Corteva Trading Up 3.7 %

Shares of NYSE CTVA opened at $60.92 on Friday. The stock has a market cap of $41.87 billion, a P/E ratio of 61.54, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77. The firm has a 50 day moving average price of $58.59 and a two-hundred day moving average price of $55.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. Corteva, Inc. has a 52-week low of $43.89 and a 52-week high of $63.75.

Corteva declared that its board has approved a share buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The business 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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.12%. The ex-dividend date is Monday, December 2nd. Corteva’s payout ratio is presently 68.69%.

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.