Nachman Norwood & Parrott Inc Trims Stock Position in Corteva (NYSE:CTVA)

Nachman Norwood & Parrott Inc reduced its holdings in shares of Corteva (NYSE:CTVA) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,038 shares of the company’s stock after selling 653 shares during the period. Nachman Norwood & Parrott Inc’s holdings in Corteva were worth $415,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CTVA. Vanguard Group Inc. acquired a new position in shares of Corteva during the second quarter valued at $1,803,496,000. BlackRock Inc. bought a new position in shares of Corteva in the 2nd quarter valued at about $1,728,215,000. State Street Corp increased its position in shares of Corteva by 2.9% in the third quarter. State Street Corp now owns 44,884,480 shares of the company’s stock valued at $1,256,765,000 after acquiring an additional 1,266,301 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Corteva during the second quarter worth about $579,764,000. Finally, Nuveen Asset Management LLC acquired a new position in Corteva during the second quarter valued at approximately $429,256,000. Institutional investors and hedge funds own 74.91% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Citigroup dropped their price objective on Corteva from $34.50 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. UBS Group cut their price objective on Corteva from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Redburn Partners began coverage on Corteva in a research note on Tuesday, November 12th. They set a “buy” rating for the company. Barclays set a $32.00 price target on Corteva and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, SunTrust Banks dropped their target price on Corteva from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Corteva presently has an average rating of “Hold” and a consensus target price of $30.80.

NYSE:CTVA traded up $0.28 on Thursday, reaching $28.96. 11,890 shares of the stock traded hands, compared to its average volume of 6,154,620. Corteva has a 1-year low of $24.10 and a 1-year high of $32.78. The company’s 50 day moving average is $27.48 and its 200-day moving average is $27.83.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ 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 company’s revenue was down 1.8% compared to the same quarter last year. Research analysts predict that Corteva will post 1.23 EPS for the current year.

In other Corteva news, EVP Timothy P. Glenn purchased 5,150 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $26.13 per share, for a total transaction of $134,569.50. Also, CFO Gregory R. Friedman acquired 3,825 shares of the business’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $26.13 per share, for a total transaction of $99,947.25. Insiders purchased a total of 15,975 shares of company stock valued at $414,277 over the last three months.

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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