Ferguson Wellman Capital Management Inc. Sells 657 Shares of Corteva (NYSE:CTVA)

Ferguson Wellman Capital Management Inc. lessened its stake in shares of Corteva (NYSE:CTVA) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,243 shares of the company’s stock after selling 657 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Corteva were worth $959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Litman Gregory Asset Management LLC purchased a new stake in shares of Corteva during the 2nd quarter valued at $26,000. Executive Wealth Management LLC purchased a new stake in shares of Corteva during the 2nd quarter valued at $27,000. Roble Belko & Company Inc purchased a new stake in shares of Corteva during the 2nd quarter valued at $29,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Corteva during the 2nd quarter valued at $29,000. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of Corteva during the 2nd quarter valued at $30,000. 72.18% of the stock is currently owned by institutional investors and hedge funds.

NYSE:CTVA opened at $26.87 on Thursday. Corteva has a 52 week low of $24.35 and a 52 week high of $32.78. The company’s 50-day simple moving average is $28.09.

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

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 29th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, November 27th.

In other news, insider Timothy P. Glenn acquired 6,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $30.52 per share, for a total transaction of $198,380.00. Also, Director Klaus A. Engel acquired 18,393 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average price of $30.00 per share, for a total transaction of $551,790.00. Following the completion of the acquisition, the director now owns 25,253 shares in the company, valued at approximately $757,590. The disclosure for this purchase can be found here.

Several brokerages have recently commented on CTVA. Zacks Investment Research lowered Corteva from a “hold” rating to a “strong sell” rating in a report on Wednesday. Loop Capital began coverage on Corteva in a report on Monday, July 1st. They set a “hold” rating and a $31.00 price objective for the company. Royal Bank of Canada upgraded Corteva from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $29.00 to $38.00 in a research note on Friday, August 9th. Monness Crespi & Hardt began coverage on Corteva in a research note on Wednesday, July 17th. They issued a “sell” rating and a $24.00 target price for the company. Finally, SunTrust Banks reduced their target price on Corteva from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Corteva currently has an average rating of “Hold” and an average price target of $31.93.

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.

Read More: Index Funds

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva (NYSE:CTVA).

Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

Receive News & Ratings for Corteva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva and related companies with MarketBeat.com's FREE daily email newsletter.