Nisa Investment Advisors LLC Has $13.89 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Nisa Investment Advisors LLC raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 10.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,820 shares of the company’s stock after purchasing an additional 23,686 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Corteva were worth $13,888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CTVA. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Corteva during the third quarter worth about $99,869,000. Franklin Resources Inc. increased its holdings in shares of Corteva by 6.1% during the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares in the last quarter. Bank of Montreal Can raised its position in Corteva by 370.6% in the second quarter. Bank of Montreal Can now owns 1,074,361 shares of the company’s stock valued at $57,951,000 after purchasing an additional 846,065 shares during the last quarter. KBC Group NV raised its holdings in Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several analyst reports. Royal Bank of Canada upped their target price on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Bank of America raised their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Barclays raised their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday. Oppenheimer restated an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, 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 report on Wednesday, November 20th. One equities 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 MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target of $65.59.

Corteva Trading Up 2.7 %

Corteva stock opened at $64.19 on Friday. The business’s fifty day moving average is $59.25 and its 200 day moving average is $57.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $44.12 billion, a PE ratio of 64.84, a price-to-earnings-growth ratio of 1.64 and a beta of 0.77. Corteva, Inc. has a one year low of $44.91 and a one year high of $64.23.

Corteva declared that its board has authorized a share 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 buy up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.17 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. Corteva’s dividend payout ratio is currently 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.