Geode Capital Management LLC Has $15.53 Million Stake in Covanta Holding Corporation (CVA)

Geode Capital Management LLC raised its stake in Covanta Holding Corporation (NYSE:CVA) by 6.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 989,391 shares of the energy company’s stock after buying an additional 56,518 shares during the period. Geode Capital Management LLC owned about 0.77% of Covanta Holding Corporation worth $15,533,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Covanta Holding Corporation by 17.3% in the first quarter. Wells Fargo & Company MN now owns 566,739 shares of the energy company’s stock valued at $8,898,000 after buying an additional 83,547 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of Covanta Holding Corporation by 3.9% in the first quarter. Miller Howard Investments Inc. NY now owns 1,416,139 shares of the energy company’s stock valued at $22,233,000 after buying an additional 52,961 shares during the period. Sit Investment Associates Inc. boosted 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 period. CAPROCK Group Inc. boosted its stake in shares of Covanta Holding Corporation by 27.5% in the first quarter. CAPROCK Group Inc. now owns 24,614 shares of the energy company’s stock valued at $386,000 after buying an additional 5,310 shares during the period. Finally, Rothschild Investment Corp IL boosted its stake in shares of Covanta Holding Corporation by 15.0% in the first quarter. Rothschild Investment Corp IL now owns 100,950 shares of the energy company’s stock valued at $1,585,000 after buying an additional 13,200 shares during the period. 89.98% of the stock is currently owned by hedge funds and other institutional investors.

Covanta Holding Corporation (NYSE CVA) opened at 13.35 on Thursday. Covanta Holding Corporation has a 1-year low of $13.00 and a 1-year high of $17.09. The stock’s 50 day moving average is $13.88 and its 200 day moving average is $14.96. The firm’s market capitalization is $1.72 billion.

Covanta Holding Corporation (NYSE:CVA) last posted its quarterly earnings data on Tuesday, April 25th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.16. Covanta Holding Corporation had a negative return on equity of 8.88% and a negative net margin of 0.94%. The company had revenue of $404 million for the quarter, compared to analysts’ expectations of $399.69 million. During the same quarter last year, the business posted ($0.19) EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Analysts predict that Covanta Holding Corporation will post ($0.10) EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Thursday, June 29th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 27th. This represents a $1.00 dividend on an annualized basis and a yield of 7.49%. Covanta Holding Corporation’s dividend payout ratio (DPR) is presently -714.23%.

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Several brokerages have commented on CVA. BidaskClub raised shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Robert W. Baird upgraded shares of Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price objective on the stock in a research note on Monday, May 15th. Zacks Investment Research lowered shares of Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Covanta Holding Corporation in a research note on Monday. Finally, Barclays PLC upgraded shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $16.00 to $15.00 in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.20.

In related news, insider Paul E. Stauder sold 2,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 30,639 shares in the company, valued at $444,265.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael W. Ranger acquired 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were bought 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. Company insiders own 11.60% of the company’s stock.

Covanta Holding Corporation Company 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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