Davidson Investment Advisors Increases Position in Corteva (NYSE:CTVA)

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Davidson Investment Advisors grew its holdings in Corteva (NYSE:CTVA) by 0.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 254,687 shares of the company’s stock after acquiring an additional 1,447 shares during the quarter. Davidson Investment Advisors’ holdings in Corteva were worth $7,131,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Litman Gregory Asset Management LLC purchased a new position in Corteva during the second quarter worth about $26,000. Catalyst Capital Advisors LLC increased its holdings in Corteva by 261.2% in the third quarter. Catalyst Capital Advisors LLC now owns 939 shares of the company’s stock valued at $26,000 after buying an additional 679 shares in the last quarter. Executive Wealth Management LLC purchased a new position in Corteva in the second quarter valued at about $27,000. Acima Private Wealth LLC purchased a new position in Corteva in the third quarter valued at about $27,000. Finally, Roble Belko & Company Inc purchased a new position in Corteva in the second quarter valued at about $29,000. 73.32% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on CTVA. Monness Crespi & Hardt began coverage on shares of Corteva in a report on Wednesday, July 17th. They issued a “sell” rating and a $24.00 target price for the company. Barclays set a $32.00 target price on shares of Corteva and gave the company a “hold” rating in a report on Friday, November 1st. Citigroup dropped their target price on shares of Corteva from $34.50 to $31.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. SunTrust Banks dropped their target price on shares of Corteva from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, October 11th. Finally, Royal Bank of Canada upgraded shares of Corteva from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $29.00 to $38.00 in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $31.50.

In other news, SVP Cornel B. Fuerer bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $26.13 per share, for a total transaction of $52,260.00. Also, Director Klaus A. Engel bought 18,393 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average price of $30.00 per share, for a total transaction of $551,790.00. Following the transaction, the director now owns 25,253 shares of the company’s stock, valued at approximately $757,590. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 29,368 shares of company stock worth $838,567.

Shares of CTVA stock traded up $0.32 during trading hours on Tuesday, hitting $27.06. The company’s stock had a trading volume of 6,438 shares, compared to its average volume of 4,806,289. Corteva has a twelve month low of $24.35 and a twelve month high of $32.78. The stock has a fifty day moving average of $26.69.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, October 31st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.07. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.97 billion. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts expect that Corteva will post 1.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.52 dividend on an annualized basis and a yield of 1.92%.

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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