Boston Partners decreased its position in Covanta Holding Corporation (NYSE:CVA) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 632,430 shares of the energy company’s stock after selling 51,670 shares during the quarter. Boston Partners owned 0.49% of Covanta Holding Corporation worth $9,392,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVA. Quantbot Technologies LP purchased a new stake in Covanta Holding Corporation in the second quarter valued at approximately $107,000. IFP Advisors Inc increased its position in shares of Covanta Holding Corporation by 42.1% during the second quarter. IFP Advisors Inc now owns 8,927 shares of the energy company’s stock worth $118,000 after acquiring an additional 2,647 shares during the period. Connable Office Inc. purchased a new stake in shares of Covanta Holding Corporation during the second quarter worth $133,000. ProShare Advisors LLC purchased a new stake in shares of Covanta Holding Corporation during the second quarter worth $147,000. Finally, Verition Fund Management LLC increased its position in shares of Covanta Holding Corporation by 9.7% during the second quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock worth $155,000 after acquiring an additional 1,039 shares during the period. 97.36% of the stock is currently owned by institutional investors.
In related news, Director John Vincent Hickey sold 90,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $0.29, for a total value of $26,100.00. Also, Director Robert Brian Murray sold 150,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $0.25, for a total value of $37,500.00. Insiders sold 310,000 shares of company stock worth $83,200 in the last three months. 11.60% of the stock is currently owned by corporate insiders.
A number of analysts have recently weighed in on CVA shares. Robert W. Baird reaffirmed a “buy” rating and set a $17.00 price objective on shares of Covanta Holding Corporation in a research report on Friday, September 1st. Zacks Investment Research lowered Covanta Holding Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $17.00 price objective on shares of Covanta Holding Corporation in a research report on Tuesday, September 5th. BMO Capital Markets upped their price objective on Covanta Holding Corporation from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. Finally, BidaskClub lowered Covanta Holding Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $17.69.
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Covanta Holding Corporation (NYSE CVA) opened at $15.00 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 8.39. Covanta Holding Corporation has a twelve month low of $13.00 and a twelve month high of $16.50.
Covanta Holding Corporation (NYSE:CVA) last posted its earnings results on Thursday, October 26th. The energy company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $429.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. sell-side analysts anticipate that Covanta Holding Corporation will post -0.26 EPS for the current year.
Covanta Holding Corporation 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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