Linscomb & Williams Inc. has decreased its stake in Corteva, Inc. by 3.1% during the first quarter of this year, according to a recent filing with the Securities and Exchange Commission (SEC). The investment firm now owns 88,817 shares of Corteva stock, valued at $5,357,000.
Other institutional investors have also made changes to their holdings in Corteva. Column Capital Advisors LLC increased its position by 100% during the fourth quarter, AXS Investments LLC added a new position in the company, and Carolinas Wealth Consulting LLC grew its holdings by 454.5% during the first quarter. Additionally, Portland Hill Asset Management Ltd purchased a new position, and Ellevest Inc. increased its holdings by 239.4%.
Several equities analysts have recently commented on Corteva’s stock. Argus lowered their price target from $78.00 to $68.00 and Redburn Partners downgraded the stock from a “buy” to a “neutral” rating. VNET Group reaffirmed an “upgrade” rating, while JPMorgan Chase & Co. and Barclays both decreased their price targets. Overall, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.76.
Corteva, Inc. is currently trading at $49.58, with a 52-week range of $49.43 to $68.43. The company reported earnings per share (EPS) of $1.60 for the last quarter, beating the consensus estimate by $0.02. Corteva’s quarterly revenue was down 3.2% compared to the same quarter last year.
Corteva operates in the agriculture business, specifically in the Seed and Crop Protection segments. The company develops and supplies advanced germplasm and traits that enhance yield for farms, as well as technologies that improve resistance to weather, disease, insects, and herbicides.
Corteva recently announced an increase in its quarterly dividend, which will be paid to stockholders on September 15th. The new dividend is $0.16 per share, compared to the previous $0.15 per share.
This information was generated by Narrative Science technology and financial data from MarketBeat.
– Narrative Science