First Business Financial Services Inc. Acquires 3,379 Shares of Corteva, Inc. (NYSE:CTVA)

First Business Financial Services Inc. raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,350 shares of the company’s stock after purchasing an additional 3,379 shares during the period. First Business Financial Services Inc.’s holdings in Corteva were worth $2,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rovin Capital UT ADV raised its stake in shares of Corteva by 1.3% in the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after acquiring an additional 168 shares during the period. Capital Advisors Ltd. LLC lifted its stake in 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. boosted its position in shares of Corteva by 2.2% during the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock valued at $472,000 after buying an additional 174 shares during the period. Pinnacle Bancorp Inc. grew its stake in shares of Corteva by 26.1% during the third 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. Finally, Herr Investment Group LLC raised its holdings in shares of Corteva by 2.8% in the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.5 %

Shares of Corteva stock opened at $57.40 on Friday. Corteva, Inc. has a 12-month low of $43.89 and a 12-month high of $63.75. The firm’s 50 day simple moving average is $58.29 and its two-hundred day simple moving average is $55.65. 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 has a market capitalization of $39.45 billion, a price-to-earnings ratio of 57.98, a PEG ratio of 1.85 and a beta of 0.77.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. Corteva’s dividend payout ratio is currently 68.69%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTVA. Wells Fargo & Company reduced their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. Barclays raised their target price on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. KeyCorp dropped their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, UBS Group increased their price target on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.68.

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.