State Board of Administration of Florida Retirement System lowered its position in Covanta Holding Corporation (NYSE:CVA) by 50.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,323 shares of the energy company’s stock after selling 100,610 shares during the period. State Board of Administration of Florida Retirement System owned about 0.07% of Covanta Holding Corporation worth $1,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Quantitative Investment Management LLC acquired a new stake in Covanta Holding Corporation in the first quarter valued at about $653,000. Advisors Capital Management LLC lifted its position in Covanta Holding Corporation by 15.3% in the second quarter. Advisors Capital Management LLC now owns 204,258 shares of the energy company’s stock valued at $2,696,000 after purchasing an additional 27,030 shares during the period. Financial & Investment Management Group Ltd. lifted its position in Covanta Holding Corporation by 25.0% in the second quarter. Financial & Investment Management Group Ltd. now owns 259,888 shares of the energy company’s stock valued at $3,431,000 after purchasing an additional 51,981 shares during the period. KCG Holdings Inc. acquired a new stake in Covanta Holding Corporation in the first quarter valued at about $329,000. Finally, Loews Corp lifted its position in Covanta Holding Corporation by 5.7% in the first quarter. Loews Corp now owns 66,534 shares of the energy company’s stock valued at $1,045,000 after purchasing an additional 3,584 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Shares of Covanta Holding Corporation (NYSE CVA) opened at 14.55 on Tuesday. The stock’s 50 day moving average is $14.25 and its 200-day moving average is $14.44. Covanta Holding Corporation has a 52-week low of $13.00 and a 52-week high of $16.50. The firm’s market capitalization is $1.89 billion.

Covanta Holding Corporation (NYSE:CVA) last posted its earnings results on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. The firm had revenue of $424.00 million during the quarter, compared to the consensus estimate of $416.18 million. During the same quarter last year, the company posted ($0.22) EPS. Covanta Holding Corporation’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities analysts forecast that Covanta Holding Corporation will post ($0.23) earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Thursday, September 28th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.87%. The ex-dividend date is Wednesday, September 27th. Covanta Holding Corporation’s dividend payout ratio (DPR) is -526.29%.

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CVA has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research downgraded shares of Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. BMO Capital Markets initiated coverage on shares of Covanta Holding Corporation in a research report on Thursday, June 29th. They issued a “market perform” rating and a $16.00 price objective for the company. Barclays PLC upgraded shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $16.00 to $15.00 in a research report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Covanta Holding Corporation presently has an average rating of “Hold” and an average target price of $17.19.

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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