Covanta Holding Corp (CVA) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC reduced its position in Covanta Holding Corp (NYSE:CVA) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,201,032 shares of the energy company’s stock after selling 118,797 shares during the period. Neuberger Berman Group LLC owned approximately 4.03% of Covanta Holding Corp worth $81,656,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Chai Trust Co. LLC bought a new position in shares of Covanta Holding Corp during the fourth quarter worth approximately $202,007,000. Norges Bank bought a new position in shares of Covanta Holding Corp during the fourth quarter worth approximately $45,446,000. RidgeWorth Capital Management LLC increased its position in shares of Covanta Holding Corp 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 in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Covanta Holding Corp during the fourth quarter worth approximately $18,058,000. Finally, Two Sigma Investments LP increased its position in shares of Covanta Holding Corp by 502.4% in the fourth quarter. Two Sigma Investments LP now owns 1,313,797 shares of the energy company’s stock worth $20,495,000 after buying an additional 1,095,706 shares in the last quarter. Institutional investors and hedge funds own 81.57% of the company’s stock.

Institutional Ownership by Quarter for Covanta Holding Corp (NYSE:CVA)

Covanta Holding Corp (NYSE:CVA) remained flat at $14.65 during trading on Friday. 909,874 shares of the company traded hands. The company has a 50 day moving average price of $14.70 and a 200 day moving average price of $15.23. The firm’s market capitalization is $1.89 billion. Covanta Holding Corp has a one year low of $13.45 and a one year high of $17.16.

Covanta Holding Corp (NYSE:CVA) last announced its quarterly earnings data on Tuesday, April 25th. The energy company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.16. The business had revenue of $404 million during the quarter, compared to analyst estimates of $399.69 million. Covanta Holding Corp had a net margin of 3.88% and a negative return on equity of 4.97%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS. Equities research analysts forecast that Covanta Holding Corp will post ($0.11) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Thursday, June 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date of this dividend is Tuesday, June 27th. Covanta Holding Corp’s dividend payout ratio (DPR) is currently 208.34%.

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CVA has been the topic of a number of research analyst reports. Goldman Sachs Group Inc initiated coverage on shares of Covanta Holding Corp in a research note on Friday, March 3rd. They issued a “sell” rating and a $12.50 target price on the stock. Wedbush restated an “outperform” rating and issued a $21.00 target price on shares of Covanta Holding Corp in a research note on Tuesday, March 14th. Zacks Investment Research upgraded shares of Covanta Holding Corp from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Monday, February 20th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Covanta Holding Corp in a research note on Friday, February 3rd. Finally, Robert W. Baird upgraded shares of Covanta Holding Corp from a “neutral” rating to an “outperform” rating and set a $17.00 target price on the stock in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Covanta Holding Corp currently has an average rating of “Hold” and a consensus price target of $17.44.

In other Covanta Holding Corp news, insider Stephen J. Jones acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was purchased at an average price of $14.48 per share, for a total transaction of $144,800.00. Following the completion of the acquisition, the insider now owns 167,232 shares of the company’s stock, valued at approximately $2,421,519.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael W. Ranger acquired 40,000 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was acquired at an average price of $14.56 per share, with a total value of $582,400.00. Following the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $582,400. The disclosure for this purchase can be found here. Insiders own 11.80% of the company’s stock.

About Covanta Holding Corp

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.

12 Month Chart for NYSE:CVA

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