Investment House LLC acquired a new stake in Corteva (NASDAQ:CTVA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,779 shares of the company’s stock, valued at approximately $289,000.
Several other institutional investors have also added to or reduced their stakes in CTVA. Dupont Capital Management Corp bought a new position in shares of Corteva in the second quarter valued at approximately $125,975,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Corteva in the second quarter valued at approximately $101,166,000. Swiss National Bank bought a new stake in Corteva during the second quarter valued at approximately $72,452,000. Factory Mutual Insurance Co. bought a new stake in Corteva during the second quarter valued at approximately $31,186,000. Finally, New York State Teachers Retirement System bought a new stake in Corteva during the second quarter valued at approximately $30,510,000.
Several brokerages have issued reports on CTVA. Monness Crespi & Hardt began coverage on shares of Corteva in a research report on Wednesday, July 17th. They set a “sell” rating and a $24.00 target price for the company. Royal Bank of Canada upgraded shares of Corteva from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $29.00 to $38.00 in a research report on Friday, August 9th. Argus began coverage on shares of Corteva in a research report on Thursday, June 20th. They set a “hold” rating for the company. Sanford C. Bernstein began coverage on shares of Corteva in a research report on Wednesday, June 5th. They set a “market perform” rating and a $31.00 target price for the company. Finally, Morgan Stanley began coverage on shares of Corteva in a research report on Monday, June 3rd. They set an “equal weight” rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $32.25.
Corteva (NASDAQ:CTVA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.43. The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Corteva’s quarterly revenue was down 3.1% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, July 31st will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, July 30th.
In other Corteva news, Director Gregory R. Page bought 2,000 shares of Corteva stock in a transaction dated Monday, June 3rd. The shares were purchased at an average cost of $25.49 per share, with a total value of $50,980.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
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