Haverford Trust Co. lessened its stake in shares of Corteva (NYSE:CTVA) by 3.8% during the third quarter, HoldingsChannel reports. The firm owned 174,919 shares of the company’s stock after selling 6,939 shares during the period. Haverford Trust Co.’s holdings in Corteva were worth $4,898,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CTVA. Vanguard Group Inc. acquired a new position in shares of Corteva in the second quarter worth about $1,803,496,000. BlackRock Inc. acquired a new position in shares of Corteva in the second quarter worth about $1,728,215,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Corteva in the second quarter worth about $579,764,000. Nuveen Asset Management LLC acquired a new position in shares of Corteva in the second quarter worth about $429,256,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Corteva in the second quarter worth about $404,071,000. Institutional investors own 72.44% of the company’s stock.
Several research firms recently commented on CTVA. Deutsche Bank boosted their price target on Corteva from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada upgraded Corteva from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $29.00 to $38.00 in a research note on Friday, August 9th. Monness Crespi & Hardt began coverage on Corteva in a research note on Wednesday, July 17th. They issued a “sell” rating and a $24.00 price target on the stock. SunTrust Banks lowered their price objective on Corteva from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, October 11th. Finally, Citigroup lowered their price objective on Corteva from $34.50 to $31.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. One equities 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 company. The company currently has an average rating of “Hold” and a consensus price target of $31.50.
In related news, EVP Timothy P. Glenn bought 5,150 shares of the stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $26.13 per share, with a total value of $134,569.50. Also, Director Klaus A. Engel bought 18,393 shares of the stock in a transaction dated Friday, August 30th. The shares were bought at an average cost of $30.00 per share, with a total value of $551,790.00. Following the completion of the acquisition, the director now directly owns 25,253 shares of the company’s stock, valued at approximately $757,590. The disclosure for this purchase can be found here. Insiders have bought 29,368 shares of company stock valued at $838,567 over the last ninety days.
Corteva stock traded up $0.05 during midday trading on Friday, hitting $26.20. The stock had a trading volume of 2,974,773 shares, 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 business’s fifty day moving average is $26.80.
Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.07. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.97 billion. Corteva’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Corteva will post 1.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 29th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, November 27th.
Corteva Company Profile
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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