Vaughan Nelson Investment Management L.P. Has $155.56 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Vaughan Nelson Investment Management L.P. reduced its position in Corteva, Inc. (NYSE:CTVA) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,731,022 shares of the company’s stock after selling 169,461 shares during the period. Corteva accounts for approximately 1.4% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 18th largest holding. Vaughan Nelson Investment Management L.P. owned approximately 0.40% of Corteva worth $155,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Atomi Financial Group Inc. acquired a new stake in shares of Corteva during the third quarter worth $253,000. Wedmont Private Capital acquired a new stake in shares of Corteva during the third quarter worth $232,000. Perpetual Ltd raised its stake in shares of Corteva by 6.6% in the 3rd quarter. Perpetual Ltd now owns 4,707 shares of the company’s stock valued at $277,000 after purchasing an additional 293 shares during the period. Pinnacle Bancorp Inc. lifted its stake in Corteva by 26.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after acquiring an additional 199 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Corteva by 537.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,965 shares of the company’s stock worth $174,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. KeyCorp raised their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Barclays raised their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Bank of America increased their price target on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.31.

Corteva Stock Performance

CTVA opened at $62.32 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.96. The company has a market capitalization of $42.83 billion, a PE ratio of 48.31, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78. The business has a fifty day simple moving average of $60.22 and a 200 day simple moving average of $58.19. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Research analysts expect that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s dividend payout ratio is 52.71%.

Corteva announced that its board has initiated a stock buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.