Dynamic Technology Lab Private Ltd bought a new stake in Covanta Holding Corp. (NYSE:CVA) during the second quarter, Holdings Channel reports. The institutional investor bought 27,304 shares of the company’s stock, valued at approximately $449,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Covanta Holding Corp. by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 8,806 shares of the company’s stock worth $145,000 after buying an additional 1,054 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Covanta Holding Corp. by 5.5% in the second quarter. Glenmede Trust Co. NA now owns 9,507 shares of the company’s stock worth $156,000 after buying an additional 496 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Covanta Holding Corp. during the second quarter worth about $171,000. Raymond James Trust N.A. acquired a new position in shares of Covanta Holding Corp. during the second quarter worth about $179,000. Finally, Stephens Inc. AR increased its position in shares of Covanta Holding Corp. by 8.7% in the second quarter. Stephens Inc. AR now owns 11,097 shares of the company’s stock worth $183,000 after buying an additional 885 shares in the last quarter. 80.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Covanta Holding Corp. (NYSE:CVA) traded up 0.41% during mid-day trading on Wednesday, reaching $14.62. The company’s stock had a trading volume of 55,205 shares. The company has a market cap of $1.89 billion, a P/E ratio of 42.38 and a beta of 0.61. Covanta Holding Corp. has a 12 month low of $12.48 and a 12 month high of $18.79. The company has a 50-day moving average of $14.97 and a 200-day moving average of $16.16.

Covanta Holding Corp. (NYSE:CVA) last posted its earnings results on Tuesday, July 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.17. The business earned $418 million during the quarter, compared to the consensus estimate of $410.38 million. Covanta Holding Corp. had a negative return on equity of 3.48% and a net margin of 2.69%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. Equities research analysts forecast that Covanta Holding Corp. will post ($0.12) earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on CVA. Zacks Investment Research raised Covanta Holding Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Barclays PLC dropped their price objective on Covanta Holding Corp. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 9th. Imperial Capital dropped their price objective on Covanta Holding Corp. from $18.50 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, Macquarie began coverage on Covanta Holding Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating and a $18.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Covanta Holding Corp. has an average rating of “Buy” and an average price target of $18.00.

In related news, Director Ronald J. Broglio sold 4,500 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $15.78, for a total value of $71,010.00. Following the sale, the director now directly owns 4,529 shares of the company’s stock, valued at $71,467.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.80% of the stock is owned by corporate insiders.

About Covanta Holding Corp.

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. It operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.

5 Day Chart for NYSE:CVA

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