Pinnacle Financial Partners Inc Acquires 570 Shares of Corteva, Inc. (NYSE:CTVA)

Pinnacle Financial Partners Inc boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,484 shares of the company’s stock after purchasing an additional 570 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Corteva were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its stake in shares of Corteva by 69.5% in the first quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock worth $3,031,000 after acquiring an additional 21,545 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Corteva by 51.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock worth $6,668,000 after purchasing an additional 41,943 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Corteva by 0.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock worth $12,942,000 after purchasing an additional 845 shares during the period. Anomaly Capital Management LP bought a new stake in shares of Corteva in the second quarter valued at about $188,578,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Corteva by 4,322.2% in the second quarter. Acadian Asset Management LLC now owns 19,679 shares of the company’s stock valued at $1,060,000 after buying an additional 19,234 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

CTVA opened at $57.40 on Friday. 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 $39.45 billion, a P/E ratio of 57.98, a price-to-earnings-growth ratio of 1.83 and a beta of 0.77. The company’s 50 day simple moving average is $58.29 and its 200-day simple moving average is $55.65. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup initiated coverage on Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective for the company. Wells Fargo & Company reduced their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. KeyCorp reduced their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada lowered their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.68.

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.