Lake Hills Wealth Management LLC Buys New Stake in Corteva, Inc. (NYSE:CTVA)

Lake Hills Wealth Management LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 7,322 shares of the company’s stock, valued at approximately $417,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. KBC Group NV lifted its holdings in Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after purchasing an additional 815,135 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Corteva during the fourth quarter worth approximately $1,514,000. Charles Schwab Investment Management Inc. raised its stake in shares of Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after acquiring an additional 66,052 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after acquiring an additional 488,181 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC grew its position in Corteva by 54.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock worth $5,474,000 after acquiring an additional 33,886 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTVA. Bank of America boosted their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. UBS Group decreased their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada upped their target price on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. KeyCorp dropped their price objective on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.59.

Corteva Trading Down 1.0 %

CTVA opened at $62.52 on Thursday. The firm’s fifty day moving average is $59.15 and its two-hundred day moving average is $57.26. The firm has a market cap of $42.97 billion, a PE ratio of 63.15, a price-to-earnings-growth ratio of 1.64 and a beta of 0.77. Corteva, Inc. has a twelve month low of $44.91 and a twelve month high of $64.20. 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 Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s dividend payout ratio is presently 68.69%.

Corteva announced that its board has approved a share buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.