Geode Capital Management LLC boosted its position in shares of Covanta Holding Corp (NYSE:CVA) by 7.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,243,392 shares of the energy company’s stock after acquiring an additional 90,234 shares during the period. Geode Capital Management LLC’s holdings in Covanta were worth $16,686,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVA. IFP Advisors Inc grew its holdings in Covanta by 79.6% during the 4th quarter. IFP Advisors Inc now owns 4,000 shares of the energy company’s stock worth $53,000 after acquiring an additional 1,773 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Covanta during the 4th quarter worth approximately $55,000. NumerixS Investment Technologies Inc grew its holdings in Covanta by 197.3% during the 4th quarter. NumerixS Investment Technologies Inc now owns 7,136 shares of the energy company’s stock worth $95,000 after acquiring an additional 4,736 shares in the last quarter. Cipher Capital LP acquired a new position in Covanta during the 4th quarter worth approximately $164,000. Finally, AlphaCrest Capital Management LLC acquired a new position in Covanta during the 4th quarter worth approximately $172,000. Institutional investors own 79.49% of the company’s stock.
In related news, Director Ronald J. Broglio sold 6,500 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $17.72, for a total value of $115,180.00. Following the completion of the sale, the director now owns 6,487 shares in the company, valued at approximately $114,949.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy Simpson sold 44,116 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $17.78, for a total transaction of $784,382.48. Following the completion of the sale, the vice president now owns 133,582 shares of the company’s stock, valued at approximately $2,375,087.96. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by insiders.
CVA has been the subject of several analyst reports. BMO Capital Markets boosted their price target on shares of Covanta from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. UBS Group boosted their price objective on shares of Covanta from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. TheStreet downgraded shares of Covanta from a “b-” rating to a “c” rating in a research report on Friday, April 26th. Macquarie began coverage on shares of Covanta in a research report on Monday, April 29th. They set an “outperform” rating for the company. Finally, Zacks Investment Research downgraded shares of Covanta from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $17.50.
Shares of NYSE:CVA opened at $17.77 on Friday. The company has a market cap of $2.33 billion, a PE ratio of -177.70, a P/E/G ratio of 5.71 and a beta of 1.33. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 5.56. Covanta Holding Corp has a twelve month low of $12.92 and a twelve month high of $18.25.
Covanta (NYSE:CVA) last issued its quarterly earnings data on Thursday, April 25th. The energy company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.21. The business had revenue of $453.00 million during the quarter, compared to the consensus estimate of $453.72 million. Covanta had a negative net margin of 2.36% and a positive return on equity of 0.79%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) EPS. On average, equities research analysts forecast that Covanta Holding Corp will post 0.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.00 annualized dividend and a dividend yield of 5.63%. Covanta’s dividend payout ratio is presently -1,000.00%.
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Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.
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