Nationwide Fund Advisors increased its position in Covanta Holding Corporation (NYSE:CVA) by 326.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,021 shares of the energy company’s stock after acquiring an additional 52,068 shares during the period. Nationwide Fund Advisors owned approximately 0.05% of Covanta Holding Corporation worth $898,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CVA. Pinnacle Associates Ltd. boosted its position in shares of Covanta Holding Corporation by 91.9% during the 2nd quarter. Pinnacle Associates Ltd. now owns 197,474 shares of the energy company’s stock valued at $2,607,000 after purchasing an additional 94,548 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Covanta Holding Corporation by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 2,248,100 shares of the energy company’s stock worth $29,675,000 after buying an additional 78,047 shares during the period. Marathon Capital Management acquired a new position in shares of Covanta Holding Corporation in the second quarter worth about $1,328,000. PARK CIRCLE Co boosted its holdings in shares of Covanta Holding Corporation by 47.7% in the second quarter. PARK CIRCLE Co now owns 32,500 shares of the energy company’s stock worth $429,000 after buying an additional 10,500 shares during the period. Finally, Advisors Capital Management LLC raised its position in Covanta Holding Corporation by 15.3% during the second quarter. Advisors Capital Management LLC now owns 204,258 shares of the energy company’s stock valued at $2,696,000 after acquiring an additional 27,030 shares in the last quarter. 96.53% of the stock is currently owned by hedge funds and other institutional investors.
CVA has been the topic of several recent research reports. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. BidaskClub lowered shares of Covanta Holding Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. BMO Capital Markets raised shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $16.00 to $17.00 in a research report on Monday, July 31st. Stifel Nicolaus upgraded shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $15.50 to $17.00 in a research note on Monday, July 31st. Finally, Robert W. Baird reiterated a “buy” rating and set a $17.00 price target on shares of Covanta Holding Corporation in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Covanta Holding Corporation currently has an average rating of “Hold” and an average target price of $17.69.
Shares of Covanta Holding Corporation (NYSE:CVA) traded up $0.05 during trading hours on Friday, reaching $15.55. The company’s stock had a trading volume of 962,300 shares, compared to its average volume of 1,137,898. Covanta Holding Corporation has a 12-month low of $13.00 and a 12-month high of $16.50. The company has a debt-to-equity ratio of 8.39, a current ratio of 1.21 and a quick ratio of 1.21.
Covanta Holding Corporation (NYSE:CVA) last announced its quarterly earnings results on Thursday, October 26th. The energy company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $421.87 million. Covanta Holding Corporation had a negative return on equity of 12.66% and a negative net margin of 3.68%. Covanta Holding Corporation’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. sell-side analysts expect that Covanta Holding Corporation will post -0.26 EPS for the current year.
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Covanta Holding Corporation Company Profile
Covanta Holding Corporation is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. The Company operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.
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