Davidson Investment Advisors increased its holdings in shares of Corteva (NYSE:CTVA) by 0.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 254,687 shares of the company’s stock after acquiring an additional 1,447 shares during the period. Davidson Investment Advisors’ holdings in Corteva were worth $7,131,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Neville Rodie & Shaw Inc. acquired a new stake in Corteva in the 2nd quarter worth about $1,659,000. Park National Corp OH acquired a new stake in Corteva in the 2nd quarter worth about $1,981,000. Private Asset Management Inc. acquired a new stake in Corteva in the 2nd quarter worth about $654,000. Fulton Bank N.A. acquired a new stake in Corteva in the 2nd quarter worth about $208,000. Finally, Summit Financial Group Inc. acquired a new stake in Corteva in the 2nd quarter worth about $422,000. Hedge funds and other institutional investors own 73.32% of the company’s stock.
Several equities research analysts recently issued reports on CTVA shares. Deutsche Bank lifted their price objective on Corteva from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada upgraded Corteva from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $29.00 to $38.00 in a report on Friday, August 9th. Zacks Investment Research upgraded Corteva from a “sell” rating to a “hold” rating in a report on Friday, November 1st. SunTrust Banks lowered their price objective on Corteva from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Finally, Monness Crespi & Hardt initiated coverage on Corteva in a report on Wednesday, July 17th. They set a “sell” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.50.
Corteva (NYSE:CTVA) last issued its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.07. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.97 billion. The business’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Corteva will post 1.24 earnings per share 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 issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, November 27th.
In other news, EVP Timothy P. Glenn purchased 5,150 shares of Corteva stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $26.13 per share, with a total value of $134,569.50. Also, Director Klaus A. Engel purchased 18,393 shares of Corteva stock in a transaction dated Friday, August 30th. The shares were purchased at an average cost of $30.00 per share, for a total transaction of $551,790.00. Following the transaction, the director now owns 25,253 shares in the company, valued at approximately $757,590. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 29,368 shares of company stock worth $838,567.
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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