Corteva, Inc. (NYSE:CTVA) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 29.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,900,483 shares of the company’s stock after selling 1,183,202 shares during the quarter. Corteva makes up approximately 1.5% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 17th biggest holding. Vaughan Nelson Investment Management L.P.’s holdings in Corteva were worth $170,520,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. Kingsview Wealth Management LLC increased its holdings in Corteva by 4.1% in the 1st quarter. Kingsview Wealth Management LLC now owns 7,896 shares of the company’s stock valued at $455,000 after purchasing an additional 309 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Corteva by 6.6% in the first quarter. Orion Portfolio Solutions LLC now owns 31,258 shares of the company’s stock valued at $1,803,000 after buying an additional 1,924 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Corteva by 69.5% in the 1st quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock valued at $3,031,000 after buying an additional 21,545 shares during the period. Acadian Asset Management LLC acquired a new position in Corteva during the 1st quarter worth about $25,000. Finally, Catalytic Wealth RIA LLC purchased a new position in Corteva during the 1st quarter valued at about $243,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTVA. 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 note on Wednesday, October 16th. Royal Bank of Canada cut their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Wells Fargo & Company cut their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Citigroup started coverage on Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.68.

Corteva Price Performance

Shares of NYSE:CTVA opened at $55.21 on Friday. Corteva, Inc. has a 12 month low of $43.89 and a 12 month high of $63.75. The firm has a market capitalization of $37.95 billion, a P/E ratio of 55.77, a P/E/G ratio of 1.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The company’s fifty day moving average price is $58.34 and its 200 day moving average price is $55.67.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is currently 68.69%.

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.