The Manufacturers Life Insurance Company raised its holdings in shares of Covanta Holding Corporation (NYSE:CVA) by 2,256.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 89,368 shares of the company’s stock after purchasing an additional 85,576 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Covanta Holding Corporation worth $1,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CVA. JPMorgan Chase & Co. boosted its stake in Covanta Holding Corporation by 40.1% during the 1st quarter. JPMorgan Chase & Co. now owns 25,629 shares of the company’s stock valued at $402,000 after purchasing an additional 7,338 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Covanta Holding Corporation by 3.9% during the 1st quarter. Alliancebernstein L.P. now owns 59,332 shares of the company’s stock valued at $932,000 after purchasing an additional 2,230 shares during the last quarter. Wellington Management Group LLP boosted its stake in Covanta Holding Corporation by 11.3% during the 1st quarter. Wellington Management Group LLP now owns 127,363 shares of the company’s stock valued at $1,999,000 after purchasing an additional 12,923 shares during the last quarter. FMR LLC purchased a new stake in Covanta Holding Corporation during the 1st quarter valued at $229,000. Finally, Teachers Advisors LLC boosted its stake in Covanta Holding Corporation by 0.7% during the 1st quarter. Teachers Advisors LLC now owns 157,733 shares of the company’s stock valued at $2,476,000 after purchasing an additional 1,101 shares during the last quarter. Institutional investors and hedge funds own 96.53% of the company’s stock.

Several equities analysts have recently weighed in on the company. Robert W. Baird reissued a “buy” rating and set a $17.00 price target on shares of Covanta Holding Corporation in a report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $17.00 price target on shares of Covanta Holding Corporation in a report on Tuesday, September 5th. Zacks Investment Research raised Covanta Holding Corporation from a “sell” rating to a “hold” rating in a report on Monday, September 18th. BidaskClub cut Covanta Holding Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, BMO Capital Markets increased their price target on Covanta Holding Corporation from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Covanta Holding Corporation presently has an average rating of “Hold” and a consensus price target of C$17.69.

Covanta Holding Corporation (CVA) opened at C$15.55 on Friday. Covanta Holding Corporation has a twelve month low of C$13.00 and a twelve month high of C$16.50. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 8.39.

Covanta Holding Corporation (NYSE:CVA) last announced its earnings results on Thursday, October 26th. The company reported C$0.12 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.08 by C$0.04. Covanta Holding Corporation had a negative return on equity of 12.66% and a negative net margin of 3.68%. The company had revenue of C$429.00 million for the quarter, compared to analysts’ expectations of C$421.87 million. During the same period last year, the firm earned $0.18 EPS. Covanta Holding Corporation’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities research analysts predict that Covanta Holding Corporation will post -0.26 EPS for the current year.

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In related news, Director Robert Brian Murray sold 150,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of C$0.25, for a total value of C$37,500.00. Also, Director John Vincent Hickey sold 90,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of C$0.29, for a total value of C$26,100.00. Over the last ninety days, insiders sold 310,000 shares of company stock worth $83,200. 11.60% of the stock is owned by insiders.

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.

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

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