Private Ocean LLC boosted its position in Corteva (NYSE:CTVA) by 132.0% during the 3rd quarter, Holdings Channel reports. The fund owned 1,863 shares of the company’s stock after buying an additional 1,060 shares during the period. Private Ocean LLC’s holdings in Corteva were worth $53,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in CTVA. Neville Rodie & Shaw Inc. purchased a new stake in shares of Corteva in the second quarter worth approximately $1,659,000. Park National Corp OH purchased a new stake in shares of Corteva in the second quarter worth approximately $1,981,000. Private Asset Management Inc. purchased a new stake in shares of Corteva in the second quarter worth approximately $654,000. Fulton Bank N.A. purchased a new stake in shares of Corteva in the second quarter worth approximately $208,000. Finally, Summit Financial Group Inc. purchased a new stake in shares of Corteva in the second quarter worth approximately $422,000. Institutional investors and hedge funds own 72.44% of the company’s stock.
Shares of CTVA traded up $0.05 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. The business has a 50 day moving average price of $26.80. Corteva has a 52-week low of $24.35 and a 52-week high of $32.78.
Corteva (NYSE:CTVA) last issued its quarterly 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 analysts’ expectations of $1.97 billion. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Sell-side analysts anticipate that Corteva will post 1.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 29th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Wednesday, November 27th.
In other news, CFO Gregory R. Friedman bought 3,825 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $26.13 per share, with a total value of $99,947.25. Also, SVP Cornel B. Fuerer bought 2,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was purchased at an average cost of $26.13 per share, with a total value of $52,260.00. Insiders have purchased 29,368 shares of company stock valued at $838,567 over the last ninety days.
Several analysts have recently commented on the company. SunTrust Banks lowered their price objective on Corteva from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Royal Bank of Canada raised Corteva from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $29.00 to $38.00 in a research note on Friday, August 9th. Zacks Investment Research raised Corteva from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Deutsche Bank increased their price target on Corteva from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. downgraded Corteva from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $27.00 in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.50.
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.
Read More: How to calculate compound interest
Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva (NYSE:CTVA).
Receive News & Ratings for Corteva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva and related companies with MarketBeat.com's FREE daily email newsletter.