Lord Abbett & CO. LLC grew its position in Corteva, Inc. (NYSE:CTVA) by 12.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 402,880 shares of the company’s stock after purchasing an additional 44,670 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.06% of Corteva worth $16,953,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new stake in shares of Corteva in the 3rd quarter valued at $26,000. Guidance Point Advisors LLC purchased a new position in Corteva during the 3rd quarter worth $31,000. Evermay Wealth Management LLC purchased a new position in Corteva during the 2nd quarter worth $46,000. SRS Capital Advisors Inc. grew its position in Corteva by 20.7% during the 3rd quarter. SRS Capital Advisors Inc. now owns 1,306 shares of the company’s stock worth $55,000 after purchasing an additional 224 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new position in Corteva during the 3rd quarter worth $57,000. Institutional investors and hedge funds own 78.32% of the company’s stock.
Several brokerages have issued reports on CTVA. TheStreet raised shares of Corteva from a “d+” rating to a “b” rating in a research report on Wednesday, October 13th. Zacks Investment Research downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup lifted their target price on shares of Corteva from $55.00 to $57.00 in a report on Tuesday. Mizuho started coverage on shares of Corteva in a report on Tuesday, October 12th. They set a “buy” rating and a $53.00 price objective on the stock. Finally, Loop Capital downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Monday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Corteva has a consensus rating of “Buy” and an average price target of $51.29.
Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, November 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.17. Corteva had a net margin of 10.67% and a return on equity of 6.24%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm earned ($0.39) earnings per share. Research analysts anticipate that Corteva, Inc. will post 2.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Friday, November 12th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $0.56 annualized dividend and a yield of 1.15%. Corteva’s dividend payout ratio is currently 25.45%.
In other Corteva news, Director Klaus A. Engel sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 8th. The shares were sold at an average price of $47.12, for a total transaction of $188,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.
Corteva, Inc operates as a holding company. It engages in the provision of agricultural products. The firm operates through the following segments: Seed and Crop Protection. The Seed segment develops and supplies germplasm and traits that produce optimum yield for farms. The Crop Protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies.
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