Alps Advisors Inc. lifted its stake in shares of Covanta Holding Corp (NYSE:CVA) by 30.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,359 shares of the energy company’s stock after buying an additional 55,456 shares during the quarter. Alps Advisors Inc. owned approximately 0.18% of Covanta worth $4,104,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in CVA. Sandy Spring Bank acquired a new stake in shares of Covanta during the third quarter worth approximately $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Covanta during the second quarter worth approximately $33,000. Strs Ohio acquired a new stake in shares of Covanta during the second quarter worth approximately $48,000. Advisory Services Network LLC grew its position in shares of Covanta by 80.2% during the second quarter. Advisory Services Network LLC now owns 2,795 shares of the energy company’s stock worth $50,000 after buying an additional 1,244 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of Covanta during the second quarter worth approximately $57,000. 78.75% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on CVA shares. Raymond James downgraded shares of Covanta from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 22nd. Zacks Investment Research raised shares of Covanta from a “strong sell” rating to a “hold” rating and set a $14.00 price target for the company in a research report on Wednesday, July 31st. ValuEngine downgraded shares of Covanta from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Covanta in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.
Covanta stock opened at $14.76 on Friday. The company has a market cap of $1.97 billion, a PE ratio of -147.60, a P/E/G ratio of 19.99 and a beta of 1.29. The company has a fifty day moving average price of $16.28 and a two-hundred day moving average price of $17.14. The company has a debt-to-equity ratio of 6.85, a current ratio of 1.40 and a quick ratio of 1.30. Covanta Holding Corp has a 12 month low of $12.92 and a 12 month high of $18.38.
Covanta (NYSE:CVA) last released its quarterly earnings data on Thursday, October 24th. The energy company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. The firm had revenue of $465.00 million during 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 firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Equities research analysts anticipate that Covanta Holding Corp will post 0.05 earnings per share for the current year.
In other Covanta news, Director Linda J. Fisher sold 12,000 shares of Covanta stock in a transaction 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 completion of the transaction, the director now owns 34,736 shares of the company’s stock, valued at $595,375.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.00% of the company’s stock.
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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