Ferguson Wellman Capital Management Inc. Has $1.03 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Ferguson Wellman Capital Management Inc. lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,438 shares of the company’s stock after selling 1,711 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Corteva were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in shares of Corteva by 39.1% in the 4th quarter. Fisher Asset Management LLC now owns 9,380 shares of the company’s stock worth $449,000 after acquiring an additional 2,635 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Corteva during the 1st quarter valued at approximately $1,965,000. Perpetual Ltd bought a new position in shares of Corteva in the first quarter worth $229,000. Banque Cantonale Vaudoise boosted its stake in Corteva by 77.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 7,721 shares of the company’s stock worth $445,000 after purchasing an additional 3,366 shares during the period. Finally, Wedmont Private Capital bought a new position in Corteva in the 1st quarter valued at $239,000. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CTVA shares. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. KeyCorp decreased their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average price target of $62.21.

Corteva Stock Up 0.8 %

Shares of Corteva stock opened at $59.41 on Friday. The company has a market cap of $41.41 billion, a price-to-earnings ratio of 75.20, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $59.68. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $56.36 and its 200 day moving average is $55.07.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the firm earned $1.60 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Corteva’s dividend payout ratio is 86.08%.

Corteva Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.