Corteva, Inc. (NYSE:CTVA) Shares Sold by Baldwin Investment Management LLC

Baldwin Investment Management LLC lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 13.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,354 shares of the company’s stock after selling 2,833 shares during the period. Baldwin Investment Management LLC’s holdings in Corteva were worth $1,079,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Corteva during the first quarter worth $25,000. Capital Advisors Ltd. LLC grew its holdings in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares in the last quarter. Cultivar Capital Inc. purchased a new position in shares of Corteva during the second quarter valued at approximately $34,000. Redwood Wealth Management Group LLC acquired a new position in Corteva in the 2nd quarter valued at $43,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Corteva during the second quarter worth $45,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of NYSE CTVA opened at $63.26 on Wednesday. The stock has a market capitalization of $43.48 billion, a P/E ratio of 63.90, a P/E/G ratio of 2.08 and a beta of 0.77. The firm’s 50-day moving average price is $58.97 and its two-hundred day moving average price is $55.85. Corteva, Inc. has a 52-week low of $43.89 and a 52-week high of $64.20. 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 declared that its board has approved 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 buy up to 7.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is 68.69%.

Analyst Ratings Changes

Several analysts have commented on the company. Oppenheimer restated an “outperform” rating and issued a $70.00 price target (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Bank of America increased their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, UBS Group upped their target price 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 issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

About Corteva

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.