Covanta Holding Corporation (CVA) Position Boosted by KBC Group NV

KBC Group NV raised its holdings in shares of Covanta Holding Corporation (NYSE:CVA) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,481 shares of the energy company’s stock after buying an additional 1,795 shares during the quarter. KBC Group NV’s holdings in Covanta Holding Corporation were worth $482,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake 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 valued at $92,706,000 after purchasing an additional 5,871,354 shares in the last quarter. RidgeWorth Capital Management LLC grew its position in 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 valued at $65,195,000 after acquiring an additional 1,226,577 shares during the period. Bank of America Corp DE grew its position in 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 valued at $15,971,000 after acquiring an additional 565,920 shares during the period. Deprince Race & Zollo Inc. grew its position in Covanta Holding Corporation by 25.7% in the second quarter. Deprince Race & Zollo Inc. now owns 2,096,392 shares of the energy company’s stock valued at $27,672,000 after acquiring an additional 429,071 shares during the period. Finally, First Trust Advisors LP grew its position in 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 valued at $6,953,000 after acquiring an additional 415,464 shares during the period. Institutional investors own 96.22% of the company’s stock.

Covanta Holding Corporation (NYSE:CVA) opened at 14.40 on Friday. Covanta Holding Corporation has a 52 week low of $13.00 and a 52 week high of $16.50. The stock’s 50 day moving average price is $14.23 and its 200 day moving average price is $14.43. The firm’s market cap is $1.87 billion.

Covanta Holding Corporation (NYSE:CVA) last released its earnings results on Thursday, July 27th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $424.00 million for the quarter, compared to analysts’ expectations of $416.18 million. During the same quarter in the previous year, the business posted ($0.22) earnings per share. Covanta Holding Corporation’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts predict that Covanta Holding Corporation will post ($0.23) EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Thursday, September 28th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 6.94%. Covanta Holding Corporation’s payout ratio is -526.29%.

A number of analysts have weighed in on CVA shares. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Stifel Nicolaus upgraded Covanta Holding Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $15.50 to $17.00 in a research report on Monday, July 31st. Robert W. Baird reiterated a “buy” rating and issued a $17.00 price target on shares of Covanta Holding Corporation in a research report on Friday, September 1st. BidaskClub upgraded Covanta Holding Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded Covanta Holding Corporation from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Covanta Holding Corporation currently has a consensus rating of “Hold” and an average target price of $17.19.

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Covanta Holding Corporation Profile

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.

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

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