Ferguson Wellman Capital Management Inc. Sells 1,711 Shares of Corteva, Inc. (NYSE:CTVA)

Ferguson Wellman Capital Management Inc. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 8.9% during the 3rd quarter, Holdings Channel reports. The fund 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 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Corteva in the first quarter valued at $25,000. Acadian Asset Management LLC bought a new stake in shares of Corteva in the 1st quarter valued at about $25,000. Albion Financial Group UT grew its holdings in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Ironwood Wealth Management Inc. grew its stake in shares of Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after acquiring an additional 280 shares during the last quarter. Finally, Cultivar Capital Inc. acquired a new position in Corteva during the 2nd quarter valued at approximately $34,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $59.41 on Friday. The business has a 50-day moving average of $56.36 and a 200 day moving average of $55.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.68. The stock has a market capitalization 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 (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter last year, the business posted $1.60 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on CTVA shares. Wells Fargo & Company reduced their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. KeyCorp dropped their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Finally, Bank of America raised Corteva from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $67.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average price target of $62.21.

Corteva Company 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.