Ingalls & Snyder LLC Trims Stake in Corteva (NYSE:CTVA)

Ingalls & Snyder LLC trimmed its stake in Corteva (NYSE:CTVA) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,641 shares of the company’s stock after selling 514 shares during the period. Ingalls & Snyder LLC’s holdings in Corteva were worth $1,201,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CTVA. Commonwealth Bank of Australia purchased a new stake in shares of Corteva in the 2nd quarter worth $206,000. MML Investors Services LLC purchased a new stake in Corteva in the 2nd quarter worth $1,146,000. Bank of Nova Scotia purchased a new stake in Corteva in the 2nd quarter worth $697,000. AXA purchased a new stake in Corteva in the 2nd quarter worth $1,852,000. Finally, HighTower Advisors LLC purchased a new stake in Corteva in the 2nd quarter worth $4,593,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.

CTVA opened at $28.68 on Thursday. The firm has a 50-day simple moving average of $27.48 and a two-hundred day simple moving average of $27.83. Corteva has a 52 week low of $24.10 and a 52 week high of $32.78.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.07. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.97 billion. Corteva’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Corteva will post 1.23 EPS for the current fiscal year.

In related news, EVP Timothy P. Glenn acquired 5,150 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $26.13 per share, with a total value of $134,569.50. Also, SVP Cornel B. Fuerer acquired 2,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $26.13 per share, with a total value of $52,260.00. Insiders have acquired a total of 15,975 shares of company stock valued at $414,277 in the last three months.

A number of brokerages have issued reports on CTVA. Citigroup cut their price target on Corteva from $34.50 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Redburn Partners began coverage on Corteva in a research note on Tuesday, November 12th. They issued a “buy” rating for the company. JPMorgan Chase & Co. lowered Corteva from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $27.00 in a research note on Friday, November 1st. Zacks Investment Research lowered Corteva from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Finally, SunTrust Banks cut their price target 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 equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.80.

Corteva 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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