First Business Financial Services Inc. Grows Stock Holdings in Corteva, Inc. (NYSE:CTVA)

First Business Financial Services Inc. increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 9.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 40,350 shares of the company’s stock after acquiring an additional 3,379 shares during the quarter. 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).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of Corteva in the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC grew its position in shares of 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 purchasing an additional 174 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Corteva during the second quarter worth about $34,000. Redwood Wealth Management Group LLC acquired a new position in shares of Corteva during the 2nd quarter worth about $43,000. Finally, Triad Wealth Partners LLC acquired a new stake in Corteva in the 2nd quarter worth about $45,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CTVA shares. Oppenheimer restated an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. Barclays increased their price target on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Citigroup began coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective for the company. One 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.68.

Corteva Price Performance

Shares of CTVA opened at $57.40 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. Corteva, Inc. has a fifty-two week low of $43.89 and a fifty-two week high of $63.75. The firm has a 50-day simple moving average of $58.29 and a 200-day simple moving average of $55.65. The company has a market capitalization of $39.45 billion, a price-to-earnings ratio of 57.98, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. The ex-dividend date 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 (DPR) is 68.69%.

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.