Moody National Bank Trust Division Has $1.13 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Moody National Bank Trust Division boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,806 shares of the company’s stock after acquiring an additional 1,938 shares during the quarter. Moody National Bank Trust Division’s holdings in Corteva were worth $1,128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wedmont Private Capital boosted its holdings in shares of Corteva by 16.5% during the 4th quarter. Wedmont Private Capital now owns 4,708 shares of the company’s stock valued at $269,000 after acquiring an additional 668 shares in the last quarter. Czech National Bank grew its holdings in Corteva by 5.7% during the 4th quarter. Czech National Bank now owns 149,019 shares of the company’s stock worth $8,488,000 after acquiring an additional 8,001 shares during the last quarter. Graypoint LLC acquired a new position in Corteva in the 4th quarter valued at approximately $203,000. Harbor Capital Advisors Inc. raised its stake in shares of Corteva by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 20,286 shares of the company’s stock valued at $1,155,000 after acquiring an additional 497 shares during the last quarter. Finally, First Hawaiian Bank lifted its holdings in shares of Corteva by 83.7% during the fourth quarter. First Hawaiian Bank now owns 15,737 shares of the company’s stock worth $896,000 after purchasing an additional 7,170 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Barclays upped their target price on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. UBS Group lowered their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday. Citigroup decreased their price objective on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their target price on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.47.

Corteva Trading Up 5.0 %

NYSE:CTVA opened at $59.95 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a one year low of $44.01 and a one year high of $64.20. The company has a market cap of $41.20 billion, a PE ratio of 60.56, a PEG ratio of 1.93 and a beta of 0.77. The firm has a 50-day moving average of $58.85 and a 200-day moving average of $56.88.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Corteva announced that its Board of Directors has initiated a stock buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.