TCI Wealth Advisors Inc. acquired a new position in shares of Corteva (NYSE:CTVA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,186 shares of the company’s stock, valued at approximately $117,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Oakview Capital Management L.P. bought a new position in Corteva during the second quarter worth about $23,058,000. Legacy Advisors LLC bought a new position in Corteva during the second quarter worth about $210,000. Gateway Investment Advisers LLC bought a new position in Corteva during the second quarter worth about $15,124,000. Cullen Frost Bankers Inc. bought a new position in Corteva during the second quarter worth about $629,000. Finally, Bridge Creek Capital Management LLC bought a new position in Corteva during the second quarter worth about $5,559,000. Institutional investors and hedge funds own 72.18% of the company’s stock.
A number of equities analysts have weighed in on the stock. Monness Crespi & Hardt assumed 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. Deutsche Bank increased their target price on shares of Corteva from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays reiterated a “hold” rating and set a $35.00 target price on shares of Corteva in a research report on Sunday, August 4th. Citigroup cut their target price on shares of Corteva from $34.50 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Argus assumed coverage on shares of Corteva in a research report on Thursday, June 20th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $31.93.
Shares of CTVA stock traded down $0.10 during trading hours on Thursday, reaching $26.77. The stock had a trading volume of 22,894 shares, compared to its average volume of 4,443,337. The stock has a fifty day simple moving average of $28.09. Corteva has a 12 month low of $24.35 and a 12 month high of $32.78.
Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.43. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.47 billion. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts anticipate that Corteva will post 1.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 29th will be given a $0.13 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.94%.
In related news, insider Timothy P. Glenn bought 6,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $30.52 per share, with a total value of $198,380.00. Also, Director Klaus A. Engel bought 18,393 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average cost of $30.00 per share, for a total transaction of $551,790.00. Following the completion of the purchase, the director now directly owns 25,253 shares of the company’s stock, valued at $757,590. The disclosure for this purchase can be found here.
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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