Fmr LLC Purchases Shares of 14,600 Covanta Holding Corporation (NYSE:CVA)
Fmr LLC purchased a new stake in Covanta Holding Corporation (NYSE:CVA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 14,600 shares of the energy company’s stock, valued at approximately $229,000.
Other large investors also recently modified their holdings of the company. Tiedemann Wealth Management LLC bought a new stake in shares of Covanta Holding Corporation during the first quarter valued at about $239,000. Wellington Shields & Co. LLC raised its stake in shares of Covanta Holding Corporation by 0.6% in the first quarter. Wellington Shields & Co. LLC now owns 16,039 shares of the energy company’s stock valued at $252,000 after buying an additional 94 shares during the last quarter. Huntington National Bank raised its stake in shares of Covanta Holding Corporation by 3.2% in the first quarter. Huntington National Bank now owns 16,442 shares of the energy company’s stock valued at $258,000 after buying an additional 515 shares during the last quarter. Sit Investment Associates Inc. raised its stake in shares of Covanta Holding Corporation by 270.2% in the first quarter. Sit Investment Associates Inc. now owns 17,400 shares of the energy company’s stock valued at $273,000 after buying an additional 12,700 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Covanta Holding Corporation during the fourth quarter valued at about $318,000. Institutional investors own 90.04% of the company’s stock.
Covanta Holding Corporation (NYSE CVA) opened at 14.40 on Thursday. The firm has a 50-day moving average of $13.78 and a 200 day moving average of $14.79. Covanta Holding Corporation has a one year low of $13.00 and a one year high of $16.50. The company’s market capitalization is $1.87 billion.
Covanta Holding Corporation (NYSE:CVA) last announced its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.04. The firm had revenue of $424 million during the quarter, compared to analysts’ expectations of $416.18 million. Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the company earned ($0.22) earnings per share. On average, equities analysts forecast that Covanta Holding Corporation will post ($0.23) EPS for the current fiscal year.
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Several brokerages have recently issued reports on CVA. BMO Capital Markets began coverage on shares of Covanta Holding Corporation in a research note on Thursday, June 29th. They set a “market perform” rating and a $16.00 price target for the company. Stifel Nicolaus upgraded shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $15.50 to $17.00 in a research note on Monday, July 31st. BidaskClub lowered shares of Covanta Holding Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Covanta Holding Corporation in a research note on Monday, July 17th. Finally, 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 note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.28.
In related news, insider Paul E. Stauder sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $14.50, for a total transaction of $36,250.00. Following the completion of the transaction, the insider now directly owns 30,639 shares of the company’s stock, valued at $444,265.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.60% of the company’s stock.
About Covanta Holding Corporation
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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