Buckley Wealth Management LLC acquired a new stake in Corteva (NYSE:CTVA) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,541 shares of the company’s stock, valued at approximately $323,000.
Several other hedge funds have also made changes to their positions in CTVA. Vanguard Group Inc. bought a new stake in shares of Corteva in the 2nd quarter worth about $1,803,496,000. BlackRock Inc. bought a new stake in shares of Corteva in the 2nd quarter worth about $1,728,215,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Corteva in the 2nd quarter worth about $579,764,000. Nuveen Asset Management LLC bought a new stake in shares of Corteva in the 2nd quarter worth about $429,256,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Corteva in the 2nd quarter worth about $404,071,000. Institutional investors own 72.17% of the company’s stock.
In related news, Director Klaus A. Engel acquired 18,393 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were purchased at an average price of $30.00 per share, with a total value of $551,790.00. Following the acquisition, the director now directly owns 25,253 shares in the company, valued at $757,590. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy P. Glenn acquired 6,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $30.52 per share, for a total transaction of $198,380.00.
NYSE:CTVA traded up $0.94 during mid-day trading on Friday, reaching $26.67. 111,376 shares of the company were exchanged, compared to its average volume of 4,671,727. Corteva has a 12 month low of $24.35 and a 12 month high of $32.78. The firm’s fifty day moving average is $28.44.
Corteva (NYSE:CTVA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.43. The company had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.47 billion. Corteva’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, analysts expect that Corteva will post 1.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, November 27th.
CTVA has been the topic of several analyst reports. Royal Bank of Canada raised shares of Corteva from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $29.00 to $38.00 in a report on Friday, August 9th. Citigroup lowered their target price on shares of Corteva from $34.50 to $31.00 and set a “buy” rating on the stock in a report on Wednesday. Deutsche Bank upped their target price on shares of Corteva from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Argus initiated coverage on shares of Corteva in a report on Thursday, June 20th. They issued a “hold” rating on the stock. Finally, Barclays reaffirmed a “hold” rating and issued a $35.00 target price on shares of Corteva in a report on Sunday, August 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Corteva currently has a consensus rating of “Hold” and an average target price of $31.93.
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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