Silvercrest Asset Management Group LLC Makes New Investment in Corteva (NYSE:CTVA)

Silvercrest Asset Management Group LLC acquired a new stake in shares of Corteva (NYSE:CTVA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 56,769 shares of the company’s stock, valued at approximately $1,679,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oakview Capital Management L.P. bought a new position in shares of Corteva in the second quarter worth approximately $23,058,000. Legacy Advisors LLC purchased a new stake in shares of Corteva in the second quarter valued at $210,000. Gateway Investment Advisers LLC purchased a new position in Corteva in the 2nd quarter worth about $15,124,000. Cullen Frost Bankers Inc. purchased a new position in Corteva in the 2nd quarter worth about $629,000. Finally, Bridge Creek Capital Management LLC purchased a new position in Corteva in the 2nd quarter worth about $5,559,000. 72.15% of the stock is owned by hedge funds and other institutional investors.

CTVA traded down $0.14 during trading on Friday, reaching $29.00. 2,148,971 shares of the company’s stock were exchanged, compared to its average volume of 4,009,028. Corteva has a 1 year low of $24.35 and a 1 year high of $32.78. The stock has a fifty day moving average of $29.74.

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

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

Several research analysts have issued reports on the stock. Morgan Stanley began coverage on shares of Corteva in a report on Monday, June 3rd. They set an “equal weight” rating and a $32.00 target price on the stock. Macquarie started coverage on shares of Corteva in a research report on Tuesday, June 4th. They issued an “outperform” rating for the company. UBS Group started coverage on shares of Corteva in a research report on Tuesday, June 4th. They issued a “buy” rating and a $38.00 price objective for the company. SunTrust Banks started coverage on shares of Corteva in a research report on Monday, June 3rd. They issued a “hold” rating and a $29.00 price objective for the company. Finally, Goldman Sachs Group started coverage on shares of Corteva in a research report on Monday, June 3rd. They issued a “neutral” rating and a $29.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $32.25.

In other Corteva news, Director Klaus A. Engel purchased 18,393 shares of Corteva stock in a transaction on Friday, August 30th. The stock was bought at an average cost of $30.00 per share, with a total value of $551,790.00. Following the transaction, the director now owns 25,253 shares of the company’s stock, valued at approximately $757,590. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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