Moody National Bank Trust Division Has $1.13 Million Position in Corteva, Inc. (NYSE:CTVA)

Moody National Bank Trust Division grew its position in Corteva, Inc. (NYSE:CTVA) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,806 shares of the company’s stock after purchasing an additional 1,938 shares during the period. Moody National Bank Trust Division’s holdings in Corteva were worth $1,128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV raised its holdings in shares of Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after acquiring an additional 815,135 shares during the period. Charles Schwab Investment Management Inc. grew its position in Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after purchasing an additional 66,052 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Corteva by 16.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock worth $60,275,000 after buying an additional 141,898 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Corteva by 468.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company’s stock worth $2,656,000 after buying an additional 37,239 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Corteva by 0.4% in the third quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock valued at $12,942,000 after buying an additional 845 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CTVA shares. Wells Fargo & Company increased their price target on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. UBS Group cut their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday. Barclays boosted their price target on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Citigroup cut their price objective on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, Bank of America lifted their target price on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.47.

Corteva Stock Up 5.0 %

Shares of CTVA opened at $59.95 on Tuesday. The stock has a market capitalization of $41.20 billion, a PE ratio of 60.56, a P/E/G ratio of 1.93 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. The firm’s 50 day moving average is $58.85 and its 200-day moving average is $56.88. Corteva, Inc. has a 12 month low of $44.01 and a 12 month high of $64.20.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s payout ratio is currently 68.69%.

Corteva declared that its board has approved a stock repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.