Nisa Investment Advisors LLC Acquires 23,686 Shares of Corteva, Inc. (NYSE:CTVA)

Nisa Investment Advisors LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 10.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 243,820 shares of the company’s stock after acquiring an additional 23,686 shares during the period. Nisa Investment Advisors LLC’s holdings in Corteva were worth $13,888,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC grew its position in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the period. First Financial Corp IN acquired a new stake in shares of Corteva in the 4th quarter valued at $35,000. Bangor Savings Bank grew its holdings in shares of Corteva by 34.7% in the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after purchasing an additional 241 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Corteva during the 3rd quarter worth about $56,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after purchasing an additional 199 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 2.7 %

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

Corteva Dividend Announcement

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

Corteva declared that its board has authorized a stock repurchase program on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have weighed in on CTVA shares. Bank of America upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Barclays raised their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. KeyCorp lowered their target price on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Finally, UBS Group reduced their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.