Oppenheimer Asset Management Inc. Purchases 3,923 Shares of Corteva, Inc. (NYSE:CTVA)

Oppenheimer Asset Management Inc. grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 16.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,135 shares of the company’s stock after buying an additional 3,923 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Corteva were worth $1,518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Avantax Advisory Services Inc. lifted its holdings in Corteva by 6.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 12,511 shares of the company’s stock valued at $600,000 after buying an additional 720 shares in the last quarter. Norges Bank purchased a new stake in shares of Corteva in the fourth quarter valued at approximately $265,298,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in Corteva by 24.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,502 shares of the company’s stock worth $647,000 after purchasing an additional 2,643 shares in the last quarter. UBS Group AG increased its holdings in Corteva by 15.6% during the 4th quarter. UBS Group AG now owns 1,739,788 shares of the company’s stock worth $83,371,000 after purchasing an additional 235,385 shares during the period. Finally, Quest Partners LLC bought a new stake in Corteva during the 4th quarter valued at $668,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 0.7 %

NYSE CTVA opened at $57.44 on Thursday. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The company has a fifty day simple moving average of $54.47 and a two-hundred day simple moving average of $54.71. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock has a market cap of $40.03 billion, a P/E ratio of 72.71, a P/E/G ratio of 1.60 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion during 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 firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 EPS. On average, analysts forecast that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.18%. The ex-dividend date was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is 86.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. OTR Global restated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Mizuho lowered their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. cut their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. Finally, Wells Fargo & Company cut their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus 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.