Northside Capital Management LLC bought a new stake in Covanta Holding Corporation (NYSE:CVA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,190 shares of the energy company’s stock, valued at approximately $709,000.
Several other hedge funds have also added to or reduced their stakes in CVA. PNC Financial Services Group Inc. boosted its position in shares of Covanta Holding Corporation by 15.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,380 shares of the energy company’s stock worth $178,000 after buying an additional 1,500 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Covanta Holding Corporation during the fourth quarter worth $187,000. Menta Capital LLC acquired a new stake in shares of Covanta Holding Corporation during the fourth quarter worth $190,000. FMR LLC acquired a new stake in shares of Covanta Holding Corporation during the first quarter worth $229,000. Finally, Tiedemann Wealth Management LLC acquired a new stake in shares of Covanta Holding Corporation during the first quarter worth $239,000. 90.02% of the stock is currently owned by hedge funds and other institutional investors.
Covanta Holding Corporation (NYSE:CVA) traded up 0.70% during mid-day trading on Monday, hitting $14.40. The stock had a trading volume of 703,713 shares. The stock’s market cap is $1.86 billion. Covanta Holding Corporation has a 52-week low of $13.45 and a 52-week high of $17.16. The firm has a 50-day moving average of $14.40 and a 200-day moving average of $15.21.
Covanta Holding Corporation (NYSE:CVA) last posted its quarterly earnings results on Tuesday, April 25th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by $0.16. The firm had revenue of $404 million for the quarter, compared to analysts’ expectations of $399.69 million. Covanta Holding Corporation had a negative return on equity of 8.88% and a negative net margin of 0.94%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.19) earnings per share. On average, analysts forecast that Covanta Holding Corporation will post ($0.11) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Thursday, June 29th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 27th. This represents a $1.00 dividend on an annualized basis and a yield of 6.94%. Covanta Holding Corporation’s dividend payout ratio (DPR) is presently -714.23%.
A number of research analysts have issued reports on CVA shares. Zacks Investment Research upgraded Covanta Holding Corporation from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Monday, February 20th. Goldman Sachs Group, Inc. (The) initiated coverage on Covanta Holding Corporation in a research note on Friday, March 3rd. They issued a “sell” rating and a $12.50 price target for the company. Wedbush reiterated an “outperform” rating and set a $21.00 price objective on shares of Covanta Holding Corporation in a research report on Tuesday, March 14th. Robert W. Baird raised Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price target for the company in a report on Monday, May 15th. Finally, BidaskClub raised Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $17.44.
In other Covanta Holding Corporation news, Director Ronald J. Broglio sold 3,000 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $14.33, for a total value of $42,990.00. Following the completion of the transaction, the director now directly owns 8,672 shares of the company’s stock, valued at $124,269.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul E. Stauder sold 2,500 shares of the 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 transaction, the insider now directly owns 30,639 shares of the company’s stock, valued at $444,265.50. The disclosure for this sale can be found here. Company 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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