GW&K Investment Management LLC boosted its holdings in Covanta Holding Corp (NYSE:CVA) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,213,146 shares of the energy company’s stock after purchasing an additional 8,156 shares during the period. GW&K Investment Management LLC owned about 1.68% of Covanta worth $38,265,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Sandy Spring Bank bought a new position in shares of Covanta in the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd bought a new position in shares of Covanta in the 2nd quarter valued at about $33,000. Strs Ohio bought a new position in shares of Covanta in the 2nd quarter valued at about $48,000. Advisory Services Network LLC grew its position in shares of Covanta by 80.2% in the 2nd quarter. Advisory Services Network LLC now owns 2,795 shares of the energy company’s stock valued at $50,000 after acquiring an additional 1,244 shares during the period. Finally, TRUE Private Wealth Advisors bought a new position in shares of Covanta in the 2nd quarter valued at about $57,000. 78.75% of the stock is owned by institutional investors and hedge funds.
In other news, Director Linda J. Fisher sold 12,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $17.14, for a total transaction of $205,680.00. Following the completion of the sale, the director now owns 34,736 shares in the company, valued at approximately $595,375.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.00% of the company’s stock.
Shares of NYSE CVA traded up $0.08 during mid-day trading on Friday, reaching $14.76. 805,035 shares of the company were exchanged, compared to its average volume of 752,089. The company’s 50-day simple moving average is $16.28 and its 200-day simple moving average is $17.14. The company has a quick ratio of 1.30, a current ratio of 1.40 and a debt-to-equity ratio of 6.85. The stock has a market capitalization of $1.97 billion, a P/E ratio of -147.60, a P/E/G 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.
Covanta (NYSE:CVA) last posted its earnings results on Thursday, October 24th. The energy company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. The company had revenue of $465.00 million during the quarter, compared to analysts’ expectations of $464.96 million. Covanta had a net margin of 0.37% and a return on equity of 0.69%. Covanta’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) EPS. As a group, equities research analysts expect that Covanta Holding Corp will post 0.05 EPS for the current year.
CVA has been the subject of a number of analyst reports. 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 upgraded shares of Covanta from a “strong sell” rating to a “hold” rating and set a $14.00 target price for the company in a research note on Wednesday, July 31st. ValuEngine cut shares of Covanta from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Barclays restated a “hold” rating and set a $16.00 target price on shares of Covanta in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Covanta presently has a consensus rating of “Hold” and a consensus price target of $17.00.
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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