Nomura Holdings Inc. Makes New $16.64 Million Investment in Corteva (NYSE:CTVA)

Nomura Holdings Inc. bought a new position in shares of Corteva (NYSE:CTVA) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 560,717 shares of the company’s stock, valued at approximately $16,641,000. Nomura Holdings Inc. owned 0.07% of Corteva as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Oakview Capital Management L.P. purchased a new stake in shares of Corteva in the second quarter worth about $23,058,000. Legacy Advisors LLC purchased a new stake in shares of Corteva in the second quarter worth about $210,000. Gateway Investment Advisers LLC purchased a new stake in shares of Corteva in the second quarter worth about $15,124,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Corteva in the second quarter worth about $629,000. Finally, Bridge Creek Capital Management LLC purchased a new stake in shares of Corteva in the second quarter worth about $5,559,000. Hedge funds and other institutional investors own 72.15% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Corteva in a report on Sunday, June 2nd. They issued an “outperform” rating and a $37.00 price target on the stock. Royal Bank of Canada raised shares of Corteva from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $29.00 to $38.00 in a report on Friday, August 9th. Macquarie assumed coverage on shares of Corteva in a report on Tuesday, June 4th. They issued an “outperform” rating on the stock. Jefferies Financial Group started coverage on shares of Corteva in a report on Wednesday, May 29th. They issued a “buy” rating on the stock. Finally, Argus started coverage on shares of Corteva in a research note on Thursday, June 20th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.25.

In other Corteva news, Director Klaus A. Engel purchased 18,393 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were purchased at an average cost of $30.00 per share, with a total value of $551,790.00. Following the completion of the purchase, the director now owns 25,253 shares of the company’s stock, valued at approximately $757,590. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

CTVA traded down $0.09 on Friday, reaching $29.05. The company had a trading volume of 66,132 shares, compared to its average volume of 4,009,028. The business has a 50 day moving average of $29.74. Corteva has a 52-week low of $24.35 and a 52-week high of $32.78.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.43. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.47 billion. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Corteva will post 1.17 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, July 31st were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Tuesday, July 30th.

About Corteva

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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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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