Simon Quick Advisors LLC Makes New Investment in Corteva, Inc. (NYSE:CTVA)

Simon Quick Advisors LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,553 shares of the company’s stock, valued at approximately $373,000.

Other large investors also recently modified their holdings of the company. AE Wealth Management LLC raised its stake in shares of Corteva by 6.2% during the 2nd quarter. AE Wealth Management LLC now owns 9,138 shares of the company’s stock valued at $493,000 after purchasing an additional 534 shares during the period. Frank Rimerman Advisors LLC boosted its stake in Corteva by 10,695.2% during the second quarter. Frank Rimerman Advisors LLC now owns 4,534 shares of the company’s stock valued at $245,000 after buying an additional 4,492 shares during the period. Gabelli Funds LLC grew its position in Corteva by 10.7% during the second quarter. Gabelli Funds LLC now owns 51,636 shares of the company’s stock worth $2,785,000 after buying an additional 5,000 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Corteva by 47.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,923 shares of the company’s stock worth $108,000 after purchasing an additional 621 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Corteva by 69.7% in the second quarter. Public Sector Pension Investment Board now owns 26,502 shares of the company’s stock valued at $1,430,000 after purchasing an additional 10,887 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 2.7 %

CTVA opened at $64.19 on Friday. The stock has a market cap of $44.12 billion, a PE ratio of 64.84, a PEG ratio of 1.64 and a beta of 0.77. The business has a 50 day moving average of $59.25 and a 200-day moving average of $57.30. Corteva, Inc. has a 52 week low of $44.91 and a 52 week high of $64.23. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s payout ratio is currently 68.69%.

Corteva announced that its Board of Directors has approved a share repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

CTVA has been the topic of a number of research analyst reports. Bank of America increased their target price on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Royal Bank of Canada boosted their target price on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. UBS Group decreased their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Citigroup decreased their target price on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company upped 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.59.

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.