Castleview Partners LLC Reduces Stake in Corteva, Inc. (NYSE:CTVA)

Castleview Partners LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 35.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,164 shares of the company’s stock after selling 642 shares during the period. Castleview Partners LLC’s holdings in Corteva were worth $68,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Redmont Wealth Advisors LLC bought a new stake in Corteva in the first quarter valued at $25,000. Acadian Asset Management LLC bought a new stake in shares of Corteva during the 1st quarter valued at about $25,000. Albion Financial Group UT increased its position in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the period. Cultivar Capital Inc. bought a new position in Corteva in the second quarter worth about $34,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in Corteva in the second quarter worth about $43,000. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of NYSE:CTVA opened at $59.25 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market cap of $41.30 billion, a price-to-earnings ratio of 75.00, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The business has a 50-day simple moving average of $56.52 and a two-hundred day simple moving average of $55.07. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $59.68.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share 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 company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts expect that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is 86.08%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTVA. Wells Fargo & Company reduced their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and increased their price target for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $62.21.

Corteva 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.