Ipswich Investment Management Co. Inc. Reduces Holdings in Corteva, Inc. (NYSE:CTVA)

Ipswich Investment Management Co. Inc. reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 32.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,334 shares of the company’s stock after selling 3,025 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Corteva were worth $372,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. KBC Group NV lifted its position in shares of 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 buying an additional 815,135 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Corteva by 69.5% during the first quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock valued at $3,031,000 after purchasing an additional 21,545 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Corteva by 51.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock worth $6,668,000 after purchasing an additional 41,943 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Corteva by 0.4% in the third quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock worth $12,942,000 after purchasing an additional 845 shares in the last quarter. Finally, Anomaly Capital Management LP bought a new stake in shares of Corteva during the 2nd quarter valued at $188,578,000. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CTVA shares. Citigroup began coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Royal Bank of Canada cut their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One equities research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.68.

Corteva Trading Down 3.9 %

NYSE:CTVA opened at $55.19 on Friday. The firm has a 50-day simple moving average of $58.34 and a 200-day simple moving average of $55.66. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75. The firm has a market cap of $37.93 billion, a P/E ratio of 55.74, 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 quick ratio of 0.96 and a current ratio of 1.50.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.23%. Corteva’s dividend payout ratio (DPR) is presently 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.