Advisors Capital Management LLC boosted its stake in Covanta Holding Corporation (NYSE:CVA) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,258 shares of the energy company’s stock after buying an additional 27,030 shares during the period. Advisors Capital Management LLC owned 0.16% of Covanta Holding Corporation worth $2,696,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Financial & Investment Management Group Ltd. increased its position in shares of Covanta Holding Corporation by 25.0% in the second quarter. Financial & Investment Management Group Ltd. now owns 259,888 shares of the energy company’s stock worth $3,431,000 after buying an additional 51,981 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Covanta Holding Corporation by 2.6% in the second quarter. GW&K Investment Management LLC now owns 1,906,639 shares of the energy company’s stock worth $25,168,000 after buying an additional 48,443 shares during the period. Clearbridge Investments LLC boosted its stake in Covanta Holding Corporation by 26.7% in the first quarter. Clearbridge Investments LLC now owns 11,989 shares of the energy company’s stock worth $188,000 after buying an additional 2,528 shares during the period. CNA Financial Corp boosted its stake in Covanta Holding Corporation by 5.3% in the first quarter. CNA Financial Corp now owns 554,768 shares of the energy company’s stock worth $8,710,000 after buying an additional 27,768 shares during the period. Finally, Caxton Associates LP acquired a new stake in Covanta Holding Corporation during the first quarter worth about $510,000. 90.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Covanta Holding Corporation (NYSE:CVA) traded down 2.12% during trading on Friday, hitting $13.85. 1,188,443 shares of the stock traded hands. Covanta Holding Corporation has a 52 week low of $13.00 and a 52 week high of $16.50. The firm’s market cap is $1.80 billion. The company has a 50-day moving average of $13.79 and a 200-day moving average of $14.77.
Covanta Holding Corporation (NYSE:CVA) last released its earnings results on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.04. The firm had revenue of $424 million during the quarter, compared to analysts’ expectations of $416.18 million. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.22) EPS. On average, analysts forecast that Covanta Holding Corporation will post ($0.23) EPS for the current fiscal year.
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A number of equities analysts recently issued reports on CVA shares. Robert W. Baird raised shares of Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 target price on the stock in a research report on Monday, May 15th. BidaskClub raised shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered shares of Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 27th. BMO Capital Markets assumed coverage on shares of Covanta Holding Corporation in a report on Thursday, June 29th. They issued a “market perform” rating and a $16.00 target price on the stock. Finally, Barclays PLC raised shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $16.00 to $15.00 in a report on Wednesday, July 12th. Three 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’s stock. Covanta Holding Corporation currently has a consensus rating of “Hold” and an average price target of $17.28.
In other news, insider Paul E. Stauder sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $14.50, for a total value of $36,250.00. Following the completion of the transaction, the insider now owns 30,639 shares in the company, valued at approximately $444,265.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.60% of the company’s stock.
Covanta Holding Corporation 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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