GW&K Investment Management LLC boosted its holdings in shares of Covanta Holding Corp (NYSE:CVA) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,213,146 shares of the energy company’s stock after acquiring an additional 8,156 shares during the quarter. GW&K Investment Management LLC’s holdings in Covanta were worth $38,265,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Alps Advisors Inc. grew its holdings in Covanta by 30.5% during the 3rd quarter. Alps Advisors Inc. now owns 237,359 shares of the energy company’s stock worth $4,104,000 after acquiring an additional 55,456 shares during the last quarter. SG Americas Securities LLC grew its holdings in Covanta by 71.7% during the 3rd quarter. SG Americas Securities LLC now owns 140,188 shares of the energy company’s stock worth $2,424,000 after acquiring an additional 58,524 shares during the last quarter. Sandy Spring Bank bought a new stake in Covanta during the 3rd quarter worth approximately $30,000. Comerica Bank grew its holdings in Covanta by 97.3% during the 3rd quarter. Comerica Bank now owns 71,386 shares of the energy company’s stock worth $1,064,000 after acquiring an additional 35,203 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in Covanta by 29.7% during the 3rd quarter. California Public Employees Retirement System now owns 227,310 shares of the energy company’s stock worth $3,930,000 after acquiring an additional 52,038 shares during the last quarter. 78.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the stock. ValuEngine lowered shares of Covanta from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays restated a “hold” rating and issued a $16.00 price target on shares of Covanta in a research report on Tuesday, October 29th. Zacks Investment Research upgraded shares of Covanta from a “strong sell” rating to a “hold” rating and set a $14.00 price target on the stock in a research report on Wednesday, July 31st. Finally, Raymond James downgraded shares of Covanta from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.00.
In other news, Director Linda J. Fisher sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $17.14, for a total value of $205,680.00. Following the transaction, the director now owns 34,736 shares in the company, valued at approximately $595,375.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is currently owned by insiders.
Shares of NYSE CVA traded up $0.08 during midday trading on Friday, reaching $14.76. The stock had a trading volume of 805,035 shares, compared to its average volume of 752,089. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -147.60, a price-to-earnings-growth ratio of 19.99 and a beta of 1.29. Covanta Holding Corp has a twelve month low of $12.92 and a twelve month high of $18.38. The company has a debt-to-equity ratio of 6.85, a quick ratio of 1.30 and a current ratio of 1.40. The company’s 50 day moving average price is $16.28 and its 200 day moving average price is $17.14.
Covanta (NYSE:CVA) last issued its quarterly earnings results on Thursday, October 24th. The energy company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. The firm had revenue of $465.00 million for the quarter, compared to the consensus estimate of $464.96 million. Covanta had a net margin of 0.37% and a return on equity of 0.69%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) EPS. Equities analysts forecast that Covanta Holding Corp will post 0.05 earnings per share for the current fiscal year.
Covanta Company Profile
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.
Further Reading: What are convertible shares?
Want to see what other hedge funds are holding CVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Covanta Holding Corp (NYSE:CVA).
Receive News & Ratings for Covanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covanta and related companies with MarketBeat.com's FREE daily email newsletter.