Covanta Holding Corporation (CVA) Shares Sold by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC cut its holdings in Covanta Holding Corporation (NYSE:CVA) by 25.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,962 shares of the energy company’s stock after selling 4,148 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Covanta Holding Corporation were worth $178,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Covanta Holding Corporation by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 9,848,006 shares of the energy company’s stock worth $129,993,000 after buying an additional 395,239 shares during the period. BlackRock Inc. grew its position in shares of Covanta Holding Corporation by 41.6% in the 2nd quarter. BlackRock Inc. now owns 8,360,500 shares of the energy company’s stock worth $110,359,000 after buying an additional 2,455,569 shares during the period. Neuberger Berman Group LLC grew its position in shares of Covanta Holding Corporation by 11.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,817,457 shares of the energy company’s stock worth $76,790,000 after buying an additional 616,425 shares during the period. Thompson Siegel & Walmsley LLC grew its position in shares of Covanta Holding Corporation by 41.7% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,179,991 shares of the energy company’s stock worth $41,976,000 after buying an additional 936,309 shares during the period. Finally, State Street Corp grew its position in shares of Covanta Holding Corporation by 46.7% in the 2nd quarter. State Street Corp now owns 2,510,700 shares of the energy company’s stock worth $33,146,000 after buying an additional 799,767 shares during the period. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

In other Covanta Holding Corporation news, Director Robert Brian Murray sold 150,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $0.25, for a total transaction of $37,500.00. Also, Director John Vincent Hickey sold 90,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $0.29, for a total transaction of $26,100.00. Insiders have sold a total of 310,000 shares of company stock worth $83,200 in the last 90 days. Company insiders own 11.60% of the company’s stock.

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Shares of Covanta Holding Corporation (NYSE:CVA) traded down $0.15 during trading on Tuesday, reaching $15.40. 1,004,200 shares of the company were exchanged, compared to its average volume of 1,137,288. Covanta Holding Corporation has a 52 week low of $13.00 and a 52 week high of $16.50. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.39.

Covanta Holding Corporation (NYSE:CVA) last posted its earnings results on Thursday, October 26th. The energy company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The business had revenue of $429.00 million for the quarter, compared to analysts’ expectations of $421.87 million. Covanta Holding Corporation had a negative net margin of 3.68% and a negative return on equity of 12.66%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. analysts expect that Covanta Holding Corporation will post -0.26 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Covanta Holding Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $19.00 target price on shares of Covanta Holding Corporation in a research report on Wednesday, November 1st. BMO Capital Markets upped their target price on shares of Covanta Holding Corporation from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $17.00 target price on shares of Covanta Holding Corporation in a research report on Tuesday, September 5th. Finally, BidaskClub downgraded shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $17.69.

Covanta Holding Corporation 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.

Institutional Ownership by Quarter for Covanta Holding Corporation (NYSE:CVA)

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