Trust Co. of Vermont Acquires 27,693 Shares of Corteva, Inc. (NYSE:CTVA)

Trust Co. of Vermont grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 56.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,783 shares of the company’s stock after purchasing an additional 27,693 shares during the quarter. Trust Co. of Vermont’s holdings in Corteva were worth $4,374,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. KeyCorp decreased their price objective on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Barclays raised their price objective 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 dropped their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Oppenheimer restated an “outperform” rating and set a $70.00 target price (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Bank of America upped their target price on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.47.

Corteva Stock Up 1.1 %

Shares of CTVA stock traded up $0.67 during trading hours on Friday, reaching $62.30. 2,621,574 shares of the stock were exchanged, compared to its average volume of 2,673,748. Corteva, Inc. has a 12-month low of $44.01 and a 12-month high of $64.20. The business’s fifty day moving average is $58.88 and its two-hundred day moving average is $56.99. The firm has a market capitalization of $42.82 billion, a P/E ratio of 62.93, a P/E/G ratio of 1.49 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.

Corteva declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is 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.