Deutsche Bank AG trimmed its stake in Covanta Holding Corp (NYSE:CVA) by 39.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 522,959 shares of the energy company’s stock after selling 346,269 shares during the quarter. Deutsche Bank AG owned approximately 0.40% of Covanta worth $7,016,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. acquired a new position in shares of Covanta in the fourth quarter worth $28,000. Trust Co. of Vermont raised its holdings in shares of Covanta by 1,000.0% in the fourth quarter. Trust Co. of Vermont now owns 2,288 shares of the energy company’s stock worth $31,000 after acquiring an additional 2,080 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Covanta by 79.6% in the fourth quarter. IFP Advisors Inc now owns 4,000 shares of the energy company’s stock worth $53,000 after acquiring an additional 1,773 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Covanta in the fourth quarter worth $55,000. Finally, First Interstate Bank raised its holdings in shares of Covanta by 50.0% in the fourth quarter. First Interstate Bank now owns 6,000 shares of the energy company’s stock worth $81,000 after acquiring an additional 2,000 shares during the last quarter. 80.45% of the stock is owned by institutional investors.

A number of research firms have recently weighed in on CVA. Zacks Investment Research cut Covanta from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. UBS Group lifted their price objective on Covanta from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. BMO Capital Markets lifted their price objective on Covanta from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. ValuEngine downgraded Covanta from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Barclays assumed coverage on Covanta in a research report on Monday, January 7th. They issued an “equal weight” rating and a $16.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.50.

Shares of NYSE:CVA opened at $17.58 on Monday. The firm has a market capitalization of $2.31 billion, a PE ratio of -175.80, a price-to-earnings-growth ratio of 70.32 and a beta of 1.36. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 5.05. Covanta Holding Corp has a 52 week low of $12.92 and a 52 week high of $18.05.

Covanta (NYSE:CVA) last announced its quarterly earnings data on Thursday, February 14th. The energy company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.05). The business had revenue of $500.00 million during the quarter, compared to analysts’ expectations of $485.25 million. Covanta had a net margin of 8.14% and a negative return on equity of 2.36%. Covanta’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. On average, research analysts anticipate that Covanta Holding Corp will post 0.02 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 29th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend was Thursday, March 28th. Covanta’s dividend payout ratio is currently -1,000.00%.

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Covanta Profile

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.

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Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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