Teachers Advisors LLC raised its holdings in Covanta Holding Corporation (NYSE:CVA) by 35.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,188 shares of the energy company’s stock after purchasing an additional 55,455 shares during the period. Teachers Advisors LLC owned 0.16% of Covanta Holding Corporation worth $2,814,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Shields & Co. LLC grew its stake in Covanta Holding Corporation by 0.4% during the second quarter. Wellington Shields & Co. LLC now owns 16,110 shares of the energy company’s stock valued at $213,000 after acquiring an additional 71 shares in the last quarter. Lee Financial Co grew its stake in Covanta Holding Corporation by 0.7% during the second quarter. Lee Financial Co now owns 66,756 shares of the energy company’s stock valued at $881,000 after acquiring an additional 450 shares in the last quarter. Viking Fund Management LLC grew its stake in Covanta Holding Corporation by 1.3% during the second quarter. Viking Fund Management LLC now owns 52,600 shares of the energy company’s stock valued at $694,000 after acquiring an additional 700 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Covanta Holding Corporation by 15.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,380 shares of the energy company’s stock valued at $178,000 after acquiring an additional 1,500 shares in the last quarter. Finally, KBC Group NV grew its stake in Covanta Holding Corporation by 5.2% during the second quarter. KBC Group NV now owns 36,481 shares of the energy company’s stock valued at $482,000 after acquiring an additional 1,795 shares in the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.
Shares of Covanta Holding Corporation (CVA) opened at 15.25 on Thursday. The stock has a 50 day moving average of $14.76 and a 200-day moving average of $14.39. Covanta Holding Corporation has a one year low of $13.00 and a one year high of $16.50. The company’s market capitalization is $1.98 billion.
Covanta Holding Corporation (NYSE:CVA) last posted its earnings results on Thursday, July 27th. The energy company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The business had revenue of $424.00 million during the quarter, compared to analysts’ expectations of $416.18 million. During the same period last year, the business posted ($0.22) earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts expect that Covanta Holding Corporation will post ($0.25) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Thursday, September 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date was Wednesday, September 27th. Covanta Holding Corporation’s dividend payout ratio (DPR) is presently -526.29%.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, October 9th. Robert W. Baird reissued a “buy” rating and issued a $17.00 price target on shares of Covanta Holding Corporation in a research note on Friday, October 6th. Stifel Nicolaus reissued a “buy” rating and issued a $17.00 price target on shares of Covanta Holding Corporation in a research note on Tuesday, September 5th. BidaskClub cut shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, BMO Capital Markets raised shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $17.00 in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. Covanta Holding Corporation has an average rating of “Buy” and a consensus target price of $17.06.
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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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