Obermeyer Wood Investment Counsel Lllp Sells 2,332 Shares of Corteva, Inc. (NYSE:CTVA)

Obermeyer Wood Investment Counsel Lllp decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,270 shares of the company’s stock after selling 2,332 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Corteva were worth $1,307,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC purchased a new stake in shares of Corteva in the fourth quarter valued at about $25,000. BKM Wealth Management LLC purchased a new stake in Corteva during the fourth quarter worth about $27,000. NewSquare Capital LLC increased its holdings in Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after buying an additional 226 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after buying an additional 389 shares during the last quarter. Finally, Cornerstone Planning Group LLC purchased a new stake in Corteva during the second quarter worth about $28,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA stock traded up $0.43 on Thursday, reaching $53.96. The company’s stock had a trading volume of 1,614,887 shares, compared to its average volume of 3,632,999. The stock’s fifty day simple moving average is $55.19 and its 200-day simple moving average is $50.24. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $62.97. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $37.71 billion, a price-to-earnings ratio of 52.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Analysts forecast that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTVA shares. Wolfe Research assumed coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 target price for the company. TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Mizuho decreased their price target on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. KeyCorp lifted their target price on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada lifted their target price on shares of Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.29.

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.