Keybank National Association OH trimmed its position in Corteva (NYSE:CTVA) by 26.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,391 shares of the company’s stock after selling 61,581 shares during the quarter. Keybank National Association OH’s holdings in Corteva were worth $4,911,000 as of its most recent filing with the Securities & Exchange Commission.
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Several other hedge funds and other institutional investors have also recently modified their holdings of CTVA. Litman Gregory Asset Management LLC purchased a new position in Corteva during the 2nd quarter valued at $26,000. Executive Wealth Management LLC purchased a new position in Corteva during the 2nd quarter valued at $27,000. Acima Private Wealth LLC purchased a new position in Corteva during the 3rd quarter valued at $27,000. Roble Belko & Company Inc purchased a new position in Corteva during the 2nd quarter valued at $29,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in Corteva during the 2nd quarter valued at $29,000. 72.44% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on CTVA. Barclays set a $32.00 price objective on shares of Corteva and gave the company a “hold” rating in a research report on Friday, November 1st. Deutsche Bank boosted their price objective on shares of Corteva from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Corteva from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $30.00 to $27.00 in a research report on Friday, November 1st. 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 price objective on the stock. Finally, Zacks Investment Research raised shares of Corteva from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.50.
In other news, Director Klaus A. Engel purchased 18,393 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average price of $30.00 per share, for a total transaction of $551,790.00. Following the purchase, the director now directly owns 25,253 shares in the company, valued at approximately $757,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Cornel B. Fuerer purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $26.13 per share, for a total transaction of $52,260.00. In the last quarter, insiders purchased 29,368 shares of company stock worth $838,567.
Shares of CTVA stock traded up $0.05 during mid-day trading on Friday, reaching $26.20. 2,974,773 shares of the company’s stock traded hands, compared to its average volume of 5,615,176. Corteva has a 12 month low of $24.35 and a 12 month high of $32.78. The firm’s 50-day simple moving average is $26.80.
Corteva (NYSE:CTVA) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.07. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.97 billion. The business’s revenue was down 1.8% on a year-over-year basis. Equities research analysts expect that Corteva will post 1.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 29th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Wednesday, November 27th.
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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