Corteva, Inc. (NYSE:CTVA) Shares Sold by One Wealth Management Investment & Advisory Services LLC

One Wealth Management Investment & Advisory Services LLC lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,422 shares of the company’s stock after selling 483 shares during the quarter. One Wealth Management Investment & Advisory Services LLC’s holdings in Corteva were worth $239,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital International Investors boosted its stake in shares of Corteva by 47.2% during the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after acquiring an additional 8,260,808 shares during the last quarter. Norges Bank purchased a new position in Corteva during the fourth quarter worth about $265,298,000. Harris Associates L P lifted its position in Corteva by 87.1% during the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after buying an additional 4,194,981 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in Corteva by 392.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after buying an additional 3,254,126 shares during the period. Finally, Glenview Capital Management LLC lifted its position in Corteva by 116.6% during the fourth quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after buying an additional 2,529,539 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA traded up $0.22 during midday trading on Friday, reaching $55.33. 5,004,147 shares of the company traded hands, compared to its average volume of 3,346,120. The company has a fifty day moving average price of $53.81 and a 200 day moving average price of $54.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market capitalization of $38.56 billion, a price-to-earnings ratio of 70.05, a price-to-earnings-growth ratio of 1.65 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 EPS. On average, analysts expect that Corteva, Inc. will post 2.72 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.23%. Corteva’s dividend payout ratio is presently 86.08%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTVA. OTR Global reiterated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. KeyCorp reduced 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. Mizuho cut their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

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.