Cantor Fitzgerald Investment Advisors L.P. Takes $223,000 Position in Corteva, Inc. (NYSE:CTVA)

Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,800 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors increased its stake in shares of Corteva by 2.6% during the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after purchasing an additional 678,722 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after purchasing an additional 1,514,954 shares during the period. Legal & General Group Plc increased its position in Corteva by 0.9% in the second quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock worth $363,662,000 after buying an additional 61,127 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Corteva by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock valued at $250,786,000 after buying an additional 224,423 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Corteva by 392.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after buying an additional 3,254,126 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup began coverage on Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and upped their price target for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, KeyCorp dropped their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $62.84.

Corteva Trading Down 0.5 %

Shares of CTVA stock opened at $60.80 on Wednesday. The business has a 50-day moving average price of $57.41 and a two-hundred day moving average price of $55.24. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $61.38. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The firm has a market cap of $42.38 billion, a P/E ratio of 76.96, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the company posted $1.60 EPS. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. Corteva’s payout ratio is 86.08%.

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.