Towerview LLC purchased a new position in Corteva (NASDAQ:CTVA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $296,000. Corteva makes up about 0.2% of Towerview LLC’s investment portfolio, making the stock its 17th biggest holding.
Several other hedge funds and other institutional investors also recently bought and sold shares of CTVA. Factory Mutual Insurance Co. purchased a new stake in shares of Corteva in the second quarter worth approximately $31,186,000. New York State Teachers Retirement System bought a new position in Corteva during the second quarter valued at approximately $30,510,000. Cambiar Investors LLC bought a new position in Corteva during the second quarter valued at approximately $28,874,000. State of New Jersey Common Pension Fund D bought a new position in Corteva during the second quarter valued at approximately $19,713,000. Finally, Confluence Investment Management LLC bought a new position in Corteva during the second quarter valued at approximately $15,365,000.
In related news, Director Gregory R. Page purchased 2,000 shares of the stock in a transaction on Monday, June 3rd. The shares were bought at an average price of $25.49 per share, for a total transaction of $50,980.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Corteva (NASDAQ:CTVA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.99 by $0.43. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.47 billion. The company’s revenue was down 3.1% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, July 30th. This represents a $0.52 annualized dividend and a yield of 1.74%.
Several equities analysts recently weighed in on CTVA shares. JPMorgan Chase & Co. started coverage on shares of Corteva in a research report on Friday, June 21st. They set an “overweight” rating and a $30.00 price objective on the stock. Barclays reaffirmed a “hold” rating and set a $35.00 price objective on shares of Corteva in a research report on Sunday. Sanford C. Bernstein started coverage on shares of Corteva in a research report on Wednesday, June 5th. They set a “market perform” rating and a $31.00 price objective on the stock. Citigroup started coverage on shares of Corteva in a research report on Monday, June 3rd. They set a “neutral” rating and a $29.00 price objective on the stock. Finally, Loop Capital started coverage on shares of Corteva in a research report on Monday, July 1st. They set a “hold” rating and a $31.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Corteva presently has an average rating of “Hold” and an average price target of $31.21.
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