Keybank National Association OH trimmed its holdings in Corteva (NYSE:CTVA) by 26.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 175,391 shares of the company’s stock after selling 61,581 shares during the period. Keybank National Association OH’s holdings in Corteva were worth $4,911,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Litman Gregory Asset Management LLC purchased a new stake in shares of Corteva in the second quarter valued at about $26,000. Executive Wealth Management LLC purchased a new stake in Corteva during the second quarter worth about $27,000. Acima Private Wealth LLC purchased a new stake in Corteva during the third quarter worth about $27,000. Roble Belko & Company Inc purchased a new stake in Corteva during the second quarter worth about $29,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in Corteva during the second quarter worth about $29,000. 72.44% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CTVA traded up $0.05 on Friday, reaching $26.20. 2,974,773 shares of the company’s stock were exchanged, compared to its average volume of 5,615,176. Corteva has a 52 week low of $24.35 and a 52 week high of $32.78. The company has a fifty day moving average of $26.80.
Corteva (NYSE:CTVA) last issued its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.07. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.97 billion. The company’s revenue was down 1.8% compared to the same quarter last year. Sell-side analysts expect that Corteva will post 1.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 29th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.52 dividend on an annualized basis and a yield of 1.98%.
A number of analysts recently issued reports on CTVA shares. Monness Crespi & Hardt started coverage on shares of Corteva in a report on Wednesday, July 17th. They set a “sell” rating and a $24.00 price objective for the company. Barclays set a $32.00 price objective on shares of Corteva and gave the stock a “hold” rating in a report on Friday, November 1st. Deutsche Bank raised their price objective on shares of Corteva from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Zacks Investment Research upgraded shares of Corteva from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. downgraded shares of Corteva from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $27.00 in a report on Friday, November 1st. One 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 an average target price of $31.50.
In other Corteva news, EVP Timothy P. Glenn bought 5,150 shares of the business’s stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $26.13 per share, for a total transaction of $134,569.50. Also, SVP Cornel B. Fuerer bought 2,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $26.13 per share, with a total value of $52,260.00. Insiders have acquired 29,368 shares of company stock valued at $838,567 in the last quarter.
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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