Virtus Fund Advisers LLC reduced its position in Covanta Holding Corp (NYSE:CVA) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,997,944 shares of the energy company’s stock after selling 43,830 shares during the period. Virtus Fund Advisers LLC’s holdings in Covanta were worth $68,559,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CVA. Nationwide Fund Advisors raised its stake in Covanta by 326.4% in the 2nd 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 period. PNC Financial Services Group Inc. raised its stake in Covanta by 43.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 16,330 shares of the energy company’s stock valued at $216,000 after acquiring an additional 4,950 shares during the period. Citigroup Inc. raised its stake in Covanta by 1.0% in the 2nd quarter. Citigroup Inc. now owns 16,236 shares of the energy company’s stock valued at $214,000 after acquiring an additional 159 shares during the period. Northern Trust Corp raised its stake in Covanta by 5.6% in the 2nd quarter. Northern Trust Corp now owns 722,373 shares of the energy company’s stock valued at $9,535,000 after acquiring an additional 38,302 shares during the period. Finally, Vanguard Group Inc. raised its stake in Covanta by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 9,848,006 shares of the energy company’s stock valued at $129,993,000 after acquiring an additional 395,239 shares during the period. Institutional investors and hedge funds own 95.51% of the company’s stock.
Covanta Holding Corp (CVA) opened at $16.15 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.39. The firm has a market capitalization of $2,115.89, a PE ratio of -32.30, a price-to-earnings-growth ratio of 15.38 and a beta of 0.65. Covanta Holding Corp has a twelve month low of $13.00 and a twelve month high of $17.30.
A number of equities research analysts recently issued reports on the company. Robert W. Baird restated a “buy” rating and issued a $19.00 price objective on shares of Covanta in a research note on Wednesday, November 1st. BMO Capital Markets lifted their target price on Covanta from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, October 30th. Goldman Sachs Group raised Covanta from a “sell” rating to a “neutral” rating and set a $16.00 target price for the company in a report on Sunday, January 7th. Zacks Investment Research lowered Covanta from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $19.00 target price on shares of Covanta in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Covanta presently has a consensus rating of “Buy” and a consensus target price 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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