Private Ocean LLC lifted its holdings in shares of Corteva (NYSE:CTVA) by 132.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,863 shares of the company’s stock after acquiring an additional 1,060 shares during the quarter. Private Ocean LLC’s holdings in Corteva were worth $53,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Litman Gregory Asset Management LLC bought a new stake in Corteva in the 2nd quarter valued at $26,000. Executive Wealth Management LLC bought a new stake in Corteva in the 2nd quarter valued at $27,000. Acima Private Wealth LLC bought a new stake in Corteva in the 3rd quarter valued at $27,000. Roble Belko & Company Inc bought a new stake in Corteva in the 2nd quarter valued at $29,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Corteva in the 2nd quarter valued at $29,000. Institutional investors own 72.44% of the company’s stock.
In other Corteva news, CFO Gregory R. Friedman purchased 3,825 shares of the stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $26.13 per share, with a total value of $99,947.25. Also, Director Klaus A. Engel purchased 18,393 shares of the stock in a transaction dated Friday, August 30th. The shares were acquired at an average cost of $30.00 per share, with a total value of $551,790.00. Following the acquisition, the director now directly owns 25,253 shares in the company, valued at approximately $757,590. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 29,368 shares of company stock valued at $838,567.
Corteva (NYSE:CTVA) last released its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.07. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.97 billion. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts expect that Corteva will post 1.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.98%.
CTVA has been the subject of several recent research reports. SunTrust Banks reduced their price target on Corteva from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Barclays set a $32.00 price target on Corteva and gave the company a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. downgraded Corteva from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $30.00 to $27.00 in a research note on Friday, November 1st. Royal Bank of Canada upgraded Corteva from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $29.00 to $38.00 in a research note on Friday, August 9th. Finally, Monness Crespi & Hardt began coverage on Corteva in a research report on Wednesday, July 17th. They set a “sell” rating and a $24.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.50.
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
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