Ingalls & Snyder LLC Cuts Holdings in Corteva (NYSE:CTVA)

Ingalls & Snyder LLC trimmed its holdings in shares of Corteva (NYSE:CTVA) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 40,641 shares of the company’s stock after selling 514 shares during the quarter. Ingalls & Snyder LLC’s holdings in Corteva were worth $1,201,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Raymond James Trust N.A. increased its holdings in Corteva by 7.3% during the fourth quarter. Raymond James Trust N.A. now owns 42,910 shares of the company’s stock valued at $1,268,000 after buying an additional 2,933 shares during the period. Kempner Capital Management Inc. increased its holdings in Corteva by 358.4% during the fourth quarter. Kempner Capital Management Inc. now owns 102,055 shares of the company’s stock valued at $3,017,000 after buying an additional 79,791 shares during the period. Windward Capital Management Co. CA boosted its stake in Corteva by 3.5% in the fourth quarter. Windward Capital Management Co. CA now owns 122,808 shares of the company’s stock valued at $3,630,000 after acquiring an additional 4,164 shares in the last quarter. Heritage Investors Management Corp boosted its stake in Corteva by 3.6% in the fourth quarter. Heritage Investors Management Corp now owns 162,686 shares of the company’s stock valued at $4,809,000 after acquiring an additional 5,601 shares in the last quarter. Finally, First Hawaiian Bank boosted its stake in Corteva by 14.2% in the fourth quarter. First Hawaiian Bank now owns 24,002 shares of the company’s stock valued at $709,000 after acquiring an additional 2,993 shares in the last quarter. 74.91% of the stock is currently owned by institutional investors.

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

NYSE:CTVA opened at $28.68 on Thursday. Corteva has a 12 month low of $24.10 and a 12 month high of $32.78. The firm has a fifty day simple moving average of $27.48 and a 200-day simple moving average of $27.83.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.07. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.97 billion. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts predict that Corteva will post 1.23 EPS for the current year.

CTVA has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of Corteva from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Barclays set a $32.00 target price on shares of Corteva and gave the company a “hold” rating in a research note on Friday, November 1st. Redburn Partners initiated coverage on shares of Corteva in a research note on Tuesday, November 12th. They issued a “buy” rating for the company. Vertical Research initiated coverage on shares of Corteva in a research note on Thursday, December 19th. They issued a “hold” rating and a $27.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Corteva from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.80.

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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