UBS Group initiated coverage on shares of Covanta (NYSE:CVA) in a research note issued to investors on Wednesday, The Fly reports. The firm set a “neutral” rating on the energy company’s stock.
Several other research analysts have also recently issued reports on CVA. Goldman Sachs Group raised Covanta from a “sell” rating to a “neutral” rating and set a $16.00 target price on the stock in a research report on Sunday, January 7th. Zacks Investment Research cut Covanta from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. Oppenheimer reaffirmed a “buy” rating and set a $19.00 target price on shares of Covanta in a research report on Tuesday, December 19th. Finally, ValuEngine cut Covanta from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $18.00.
Shares of Covanta (NYSE CVA) remained flat at $$15.35 during trading on Wednesday. 550,147 shares of the company were exchanged, compared to its average volume of 925,312. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 5.83. Covanta has a 12-month low of $13.00 and a 12-month high of $17.30. The stock has a market cap of $2,010.74, a price-to-earnings ratio of 35.70, a PEG ratio of 15.16 and a beta of 0.71.
In other Covanta news, insider Paul E. Stauder sold 3,000 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $14.90, for a total value of $44,700.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 11.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. First Allied Advisory Services Inc. bought a new stake in shares of Covanta in the third quarter valued at $161,000. Fox Run Management L.L.C. bought a new stake in shares of Covanta in the fourth quarter valued at $178,000. Verition Fund Management LLC bought a new stake in shares of Covanta during the 4th quarter valued at $207,000. Cutler Group LP raised its stake in shares of Covanta by 81.3% during the 4th quarter. Cutler Group LP now owns 12,490 shares of the energy company’s stock valued at $211,000 after purchasing an additional 5,601 shares during the period. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Covanta during the 4th quarter valued at $214,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.
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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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