Ingalls & Snyder LLC Purchases 428 Shares of Corteva, Inc. (NYSE:CTVA)

Ingalls & Snyder LLC grew its position in Corteva, Inc. (NYSE:CTVA) by 9.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,153 shares of the company’s stock after purchasing an additional 428 shares during the quarter. Ingalls & Snyder LLC’s holdings in Corteva were worth $303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers lifted its position in Corteva by 221.9% in the 1st quarter. Cetera Investment Advisers now owns 119,493 shares of the company’s stock valued at $6,891,000 after acquiring an additional 82,369 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Corteva by 39.1% in the first quarter. Cetera Advisors LLC now owns 34,424 shares of the company’s stock worth $1,985,000 after purchasing an additional 9,675 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Corteva by 15.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,032 shares of the company’s stock valued at $110,000 after buying an additional 273 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in Corteva by 109.2% during the second quarter. Kingswood Wealth Advisors LLC now owns 11,436 shares of the company’s stock valued at $617,000 after acquiring an additional 5,969 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in shares of Corteva by 1.2% in the second quarter. Park Avenue Securities LLC now owns 42,617 shares of the company’s stock worth $2,299,000 after acquiring an additional 500 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.4 %

Shares of NYSE CTVA opened at $61.99 on Wednesday. Corteva, Inc. has a fifty-two week low of $43.89 and a fifty-two week high of $64.20. The business’s 50 day moving average price is $59.41 and its 200-day moving average price is $56.04. The company has a market cap of $42.61 billion, a price-to-earnings ratio of 62.62, a PEG ratio of 2.02 and a beta of 0.77. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.10%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTVA. KeyCorp boosted their price target on Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Bank of America upped their target price on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. UBS Group raised their price objective on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.06.

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.