Raymond James & Associates raised its position in shares of Covanta Holding Corp (NYSE:CVA) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,785,169 shares of the energy company’s stock after acquiring an additional 121,422 shares during the quarter. Raymond James & Associates owned about 2.13% of Covanta worth $47,069,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of CVA. First Trust Advisors LP boosted its position in Covanta by 1.8% during the third quarter. First Trust Advisors LP now owns 392,220 shares of the energy company’s stock valued at $5,824,000 after acquiring an additional 6,986 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Covanta by 33.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 476,217 shares of the energy company’s stock valued at $7,072,000 after acquiring an additional 119,049 shares during the last quarter. Sei Investments Co. boosted its position in Covanta by 8.8% during the third quarter. Sei Investments Co. now owns 46,137 shares of the energy company’s stock valued at $686,000 after acquiring an additional 3,740 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in Covanta during the third quarter valued at $7,996,000. Finally, Comerica Bank boosted its position in Covanta by 2.2% during the third quarter. Comerica Bank now owns 228,590 shares of the energy company’s stock valued at $3,715,000 after acquiring an additional 4,932 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Covanta Holding Corp (CVA) opened at $15.35 on Wednesday. Covanta Holding Corp has a 1 year low of $13.00 and a 1 year high of $17.30. The company has a debt-to-equity ratio of 5.83, a current ratio of 1.11 and a quick ratio of 1.11.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Thursday, March 29th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.00 annualized dividend and a yield of 6.51%. Covanta’s dividend payout ratio (DPR) is 232.56%.
A number of analysts have commented on CVA shares. Goldman Sachs Group raised shares of Covanta from a “sell” rating to a “neutral” rating and set a $16.00 price target on the stock in a research report on Sunday, January 7th. Zacks Investment Research cut shares of 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 price target on shares of Covanta in a research report on Tuesday, December 19th. Finally, ValuEngine cut shares of 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, three have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $18.00.
In other Covanta news, insider Paul E. Stauder sold 3,000 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $14.90, for a total value of $44,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.60% of the company’s stock.
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Covanta 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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