Covanta Holding Corp (NYSE:CVA) Director Robert Brian Murray sold 40,000 shares of Covanta stock in a transaction on Monday, February 12th. The stock was sold at an average price of $0.27, for a total transaction of $10,800.00.
Shares of Covanta Holding Corp (NYSE:CVA) traded down $0.03 on Wednesday, reaching $15.82. 244,953 shares of the company were exchanged, compared to its average volume of 743,581. Covanta Holding Corp has a 52-week low of $13.00 and a 52-week high of $17.30. The stock has a market capitalization of $2,030.73, a PE ratio of -31.60, a PEG ratio of 14.76 and a beta of 0.65. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.39.
A number of institutional investors and hedge funds have recently made changes to their positions in CVA. Principal Financial Group Inc. purchased a new stake in Covanta in the second quarter valued at $215,000. Teachers Advisors LLC lifted its position in Covanta by 35.2% in the second quarter. Teachers Advisors LLC now owns 213,188 shares of the energy company’s stock valued at $2,814,000 after acquiring an additional 55,455 shares during the last quarter. Nationwide Fund Advisors lifted its position in Covanta by 326.4% in the second quarter. Nationwide Fund Advisors now owns 68,021 shares of the energy company’s stock valued at $898,000 after acquiring an additional 52,068 shares during the last quarter. BlackRock Inc. lifted its position in Covanta by 41.6% in the second quarter. BlackRock Inc. now owns 8,360,500 shares of the energy company’s stock valued at $110,359,000 after acquiring an additional 2,455,569 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in Covanta in the second quarter valued at $147,000. 95.51% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on CVA. Zacks Investment Research raised shares of Covanta from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Robert W. Baird reaffirmed a “buy” rating and set a $19.00 price objective on shares of Covanta in a research report on Wednesday, November 1st. Oppenheimer reaffirmed a “buy” rating and set a $19.00 price objective on shares of Covanta in a research report on Tuesday, December 19th. BMO Capital Markets lifted their price objective on shares of Covanta from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. Finally, Goldman Sachs Group raised shares of Covanta from a “sell” rating to a “neutral” rating and set a $16.00 price objective for the company in a research report on Sunday, January 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $18.00.
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Covanta 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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