HL Financial Services LLC acquired a new position in Covanta Holding Corporation (NYSE:CVA) during the second quarter, Holdings Channel reports. The fund acquired 77,958 shares of the energy company’s stock, valued at approximately $1,029,000.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Covanta Holding Corporation by 17,486.2% in the first quarter. BlackRock Inc. now owns 5,904,931 shares of the energy company’s stock worth $92,706,000 after buying an additional 5,871,354 shares during the last quarter. RidgeWorth Capital Management LLC boosted its position in shares of Covanta Holding Corporation by 42.9% in the first quarter. RidgeWorth Capital Management LLC now owns 4,087,721 shares of the energy company’s stock worth $65,195,000 after buying an additional 1,226,577 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Covanta Holding Corporation by 125.4% in the first quarter. Bank of America Corp DE now owns 1,017,315 shares of the energy company’s stock worth $15,971,000 after buying an additional 565,920 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Covanta Holding Corporation by 1,516.1% in the first quarter. First Trust Advisors LP now owns 442,867 shares of the energy company’s stock worth $6,953,000 after buying an additional 415,464 shares during the last quarter. Finally, Precocity Capital LP boosted its position in shares of Covanta Holding Corporation by 66.7% in the first quarter. Precocity Capital LP now owns 1,000,000 shares of the energy company’s stock worth $15,700,000 after buying an additional 400,000 shares during the last quarter. 90.04% of the stock is owned by institutional investors and hedge funds.

Covanta Holding Corporation (CVA) opened at 14.15 on Friday. The company’s 50 day moving average is $13.79 and its 200-day moving average is $14.78. Covanta Holding Corporation has a 1-year low of $13.00 and a 1-year high of $16.50. The stock’s market capitalization is $1.84 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. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The firm had revenue of $424 million during the quarter, compared to analysts’ expectations of $416.18 million. During the same period in the prior year, the company posted ($0.22) EPS. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts forecast that Covanta Holding Corporation will post ($0.23) earnings per share for the current fiscal year.

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A number of equities analysts have commented on CVA shares. Robert W. Baird raised shares of Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price objective for the company in a research note on Monday, May 15th. Barclays PLC raised shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $16.00 to $15.00 in a research note on Wednesday, July 12th. BMO Capital Markets started coverage on shares of Covanta Holding Corporation in a research note on Thursday, June 29th. They issued a “market perform” rating and a $16.00 price objective for the company. Zacks Investment Research cut shares of Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Finally, BidaskClub raised shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.28.

In related news, insider Paul E. Stauder sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $14.50, for a total value of $36,250.00. Following the completion of the sale, the insider now owns 30,639 shares of the company’s stock, valued at $444,265.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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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Institutional Ownership by Quarter for Covanta Holding Corporation (NYSE:CVA)

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