Rothschild Investment Corp IL reduced its position in Covanta Holding Corp (NYSE:CVA) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,311 shares of the energy company’s stock after selling 11,839 shares during the period. Rothschild Investment Corp IL owned 0.10% of Covanta worth $2,287,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Nationwide Fund Advisors lifted its position in shares of Covanta by 326.4% in the second quarter. Nationwide Fund Advisors now owns 68,021 shares of the energy company’s stock worth $898,000 after buying an additional 52,068 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Covanta by 2,256.8% in the second quarter. The Manufacturers Life Insurance Company now owns 89,368 shares of the energy company’s stock worth $1,180,000 after buying an additional 85,576 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Covanta by 33.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 476,217 shares of the energy company’s stock worth $7,072,000 after buying an additional 119,049 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Covanta by 14.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,014,920 shares of the energy company’s stock worth $15,072,000 after buying an additional 126,880 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Covanta in the third quarter worth about $1,672,000. Institutional investors own 94.87% of the company’s stock.
Shares of Covanta Holding Corp (CVA) traded down $0.08 during mid-day trading on Tuesday, reaching $16.92. The company’s stock had a trading volume of 265,594 shares, compared to its average volume of 887,330. Covanta Holding Corp has a fifty-two week low of $13.00 and a fifty-two week high of $17.30. The company has a debt-to-equity ratio of 8.39, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $2,220.00, a P/E ratio of -33.18, a PEG ratio of 16.79 and a beta of 0.76.
Covanta (NYSE:CVA) last issued its quarterly earnings data on Thursday, October 26th. The energy company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. Covanta had a negative return on equity of 12.66% and a negative net margin of 3.68%. The business had revenue of $429.00 million for the quarter, compared to the consensus estimate of $421.87 million. During the same period in the prior year, the business posted $0.18 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. equities research analysts expect that Covanta Holding Corp will post -0.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 29th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 5.91%. Covanta’s dividend payout ratio (DPR) is presently -196.08%.
CVA has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Covanta from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Robert W. Baird reiterated a “buy” rating and issued a $17.00 target price on shares of Covanta in a research report on Friday, October 6th. BMO Capital Markets upped their price objective on Covanta from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, October 30th. Oppenheimer restated a “buy” rating and set a $19.00 price objective on shares of Covanta in a research report on Tuesday, December 19th. Finally, Goldman Sachs Group upgraded Covanta from a “sell” rating to a “neutral” rating and set a $16.00 price objective on the stock in a research report on Sunday, January 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.00.
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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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