Boston Partners cut its position in Covanta Holding Corp (NYSE:CVA) by 40.2% in the fourth quarter, HoldingsChannel reports. The firm owned 112,000 shares of the energy company’s stock after selling 75,270 shares during the period. Boston Partners’ holdings in Covanta were worth $1,503,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CVA. Cornerstone Wealth Management LLC acquired a new position in shares of Covanta during the 3rd quarter worth approximately $400,000. First Trust Advisors LP boosted its position in shares of Covanta by 32.6% during the 3rd quarter. First Trust Advisors LP now owns 539,239 shares of the energy company’s stock worth $8,763,000 after acquiring an additional 132,621 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Covanta during the 3rd quarter worth approximately $640,000. Cullen Frost Bankers Inc. boosted its position in shares of Covanta by 114.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 28,595 shares of the energy company’s stock worth $465,000 after acquiring an additional 15,256 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new stake in shares of Covanta during the 3rd quarter worth approximately $2,844,000. Institutional investors and hedge funds own 78.86% of the company’s stock.
In related news, EVP Castro Michael Joseph De bought 10,000 shares of the business’s stock in a transaction on Friday, December 28th. The shares were purchased at an average price of $13.36 per share, for a total transaction of $133,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.90% of the company’s stock.
NYSE CVA opened at $16.98 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.20 and a debt-to-equity ratio of 5.05. The company has a market cap of $2.22 billion, a P/E ratio of -169.80, a PEG ratio of 23.59 and a beta of 1.32. Covanta Holding Corp has a 1 year low of $12.92 and a 1 year high of $18.05.
Covanta (NYSE:CVA) last posted its quarterly earnings results on Thursday, February 14th. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.05). Covanta had a negative return on equity of 2.36% and a net margin of 8.14%. The firm had revenue of $500.00 million for the quarter, compared to analyst estimates of $485.25 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Equities analysts expect that Covanta Holding Corp will post 0.05 EPS for the current year.
Several research firms recently issued reports on CVA. TheStreet upgraded shares of Covanta from a “c” rating to a “b-” rating in a research report on Thursday, February 14th. Zacks Investment Research lowered shares of Covanta from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Goldman Sachs Group upgraded shares of Covanta from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.50 to $19.00 in a research report on Monday, February 4th. ValuEngine upgraded shares of Covanta from a “hold” rating to a “buy” rating in a research report on Saturday, January 19th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $18.00 price target on shares of Covanta in a research report on Tuesday, January 8th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Covanta has a consensus rating of “Buy” and a consensus price target of $17.00.
Covanta Company 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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