Hennion & Walsh Asset Management Inc. Sells 11,377 Shares of Corteva, Inc. (NYSE:CTVA)

Hennion & Walsh Asset Management Inc. reduced its stake in Corteva, Inc. (NYSE:CTVA) by 50.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,257 shares of the company’s stock after selling 11,377 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Corteva were worth $641,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its holdings in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares during the period. First Financial Corp IN bought a new stake in Corteva during the fourth quarter valued at $35,000. Bangor Savings Bank boosted its stake in Corteva by 34.7% during the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after buying an additional 241 shares during the period. Northwest Investment Counselors LLC bought a new stake in Corteva during the third quarter valued at $56,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after buying an additional 199 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CTVA. Citigroup dropped their price objective on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Wells Fargo & Company raised their price target on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Finally, KeyCorp decreased their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. One equities 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.47.

Corteva Stock Performance

Shares of CTVA opened at $62.30 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average price is $58.96 and its 200-day moving average price is $57.12. Corteva, Inc. has a 52 week low of $44.01 and a 52 week high of $64.20. The stock has a market cap 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.

Corteva declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.17 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. Corteva’s dividend payout ratio is currently 68.69%.

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.