Oakview Capital Management L.P. Sells 63,968 Shares of Corteva, Inc. (NYSE:CTVA)

Oakview Capital Management L.P. lessened its position in Corteva, Inc. (NYSE:CTVA) by 72.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 24,228 shares of the company’s stock after selling 63,968 shares during the period. Corteva comprises 4.1% of Oakview Capital Management L.P.’s investment portfolio, making the stock its 13th largest holding. Oakview Capital Management L.P.’s holdings in Corteva were worth $1,307,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in Corteva during the 1st quarter valued at about $25,000. Acadian Asset Management LLC bought a new stake in Corteva during the 1st quarter valued at about $25,000. Rise Advisors LLC lifted its holdings in Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares in the last quarter. Albion Financial Group UT lifted its holdings in Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares in the last quarter. Finally, Ironwood Wealth Management Inc. lifted its holdings in Corteva by 106.1% during the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.0 %

NYSE CTVA opened at $58.58 on Friday. 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 $40.83 billion, a PE ratio of 74.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. The company has a 50 day moving average price of $55.02 and a 200 day moving average price of $54.88. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $59.08.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the prior year, the business posted $1.60 EPS. Corteva’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Corteva’s dividend payout ratio is presently 86.08%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of research analyst reports. OTR Global reiterated a “negative” rating on shares of Corteva in a report on Friday, June 7th. Mizuho decreased their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. KeyCorp cut their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.94.

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.