Reaves W H & Co. Inc. Buys 254,553 Shares of Corning Incorporated $GLW

Key Points

• Reaves W H & Co. Inc. increased its Corning stake by 50.5% in the fourth quarter, buying 254,553 additional shares and bringing its total holding to 759,075 shares worth about $66.5 million.
• Corning has drawn broad institutional interest, with about 69.8% of the stock owned by institutional investors, while several other hedge funds also added to or initiated positions.
• Wall Street remains constructive on the stock: analysts have a Moderate Buy consensus with an average price target of $177.92, and Corning recently beat earnings estimates and raised its Q2 2026 guidance.

Reaves W H & Co. Inc. lifted its stake in Corning Incorporated (NYSE:GLW - Free Report) by 50.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 759,075 shares of the electronics maker's stock after purchasing an additional 254,553 shares during the period. Corning comprises about 1.2% of Reaves W H & Co. Inc.'s investment portfolio, making the stock its 27th largest position. Reaves W H & Co. Inc. owned 0.09% of Corning worth $66,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Florida Financial Advisors LLC bought a new position in shares of Corning in the fourth quarter worth about $999,000. Clear Harbor Asset Management LLC grew its holdings in shares of Corning by 1.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 10,802 shares of the electronics maker's stock worth $946,000 after purchasing an additional 175 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Corning by 3.5% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 3,906 shares of the electronics maker's stock worth $343,000 after purchasing an additional 132 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Corning by 3.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 370,862 shares of the electronics maker's stock worth $32,473,000 after purchasing an additional 11,083 shares during the last quarter. Finally, Essex Financial Services Inc. grew its holdings in Corning by 19.1% during the 4th quarter. Essex Financial Services Inc. now owns 11,784 shares of the electronics maker's stock worth $1,032,000 after acquiring an additional 1,893 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Bank of America increased their target price on shares of Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a report on Monday, April 20th. JPMorgan Chase & Co. increased their target price on shares of Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corning in a report on Friday, May 15th. Morgan Stanley set a $180.00 target price on shares of Corning in a report on Friday, May 8th. Finally, UBS Group increased their target price on shares of Corning from $179.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $177.92.

Corning Stock Performance

GLW stock opened at $181.37 on Monday. The firm has a market cap of $156.09 billion, a price-to-earnings ratio of 86.78, a PEG ratio of 2.59 and a beta of 1.15. The firm has a 50-day simple moving average of $167.47 and a two-hundred day simple moving average of $126.87. Corning Incorporated has a one year low of $48.88 and a one year high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning's dividend payout ratio (DPR) is presently 53.59%.

Insider Activity at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares of the company's stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company's stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 60,655 shares of company stock valued at $12,046,561. Company insiders own 0.25% of the company's stock.

Corning Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.

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