Envestnet Asset Management Inc. trimmed its position in Covanta Holding Corp (NYSE:CVA) by 26.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,115 shares of the energy company’s stock after selling 7,665 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Covanta were worth $314,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp grew its stake in Covanta by 17.3% in the 3rd quarter. Stifel Financial Corp now owns 340,446 shares of the energy company’s stock valued at $5,044,000 after buying an additional 50,211 shares during the last quarter. KBC Group NV grew its stake in Covanta by 10.3% in the 3rd quarter. KBC Group NV now owns 40,244 shares of the energy company’s stock valued at $598,000 after buying an additional 3,763 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Covanta by 2.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 203,102 shares of the energy company’s stock valued at $3,016,000 after buying an additional 5,628 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Covanta by 14.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,014,920 shares of the energy company’s stock valued at $15,072,000 after buying an additional 126,880 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in Covanta by 2.9% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,115,823 shares of the energy company’s stock valued at $16,570,000 after buying an additional 31,400 shares during the last quarter. 94.77% of the stock is currently owned by institutional investors.

Covanta Holding Corp (NYSE:CVA) opened at $17.15 on Monday. Covanta Holding Corp has a 52-week low of $13.00 and a 52-week high of $17.30. The stock has a market cap of $2,250.00, a P/E ratio of -33.63 and a beta of 0.76. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 8.39.

Covanta (NYSE:CVA) last announced its earnings results on Thursday, October 26th. The energy company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. Covanta had a negative net margin of 3.68% and a negative return on equity of 12.66%. The firm had revenue of $429.00 million for the quarter, compared to analyst estimates of $421.87 million. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. sell-side analysts expect that Covanta Holding Corp will post -0.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 29th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.00 annualized dividend and a dividend yield of 5.83%. Covanta’s dividend payout ratio is -196.08%.

A number of brokerages recently commented on CVA. Oppenheimer reiterated a “buy” rating and issued a $19.00 price target on shares of Covanta in a research note on Tuesday, December 19th. Zacks Investment Research upgraded shares of Covanta from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. BMO Capital Markets increased their target price on shares of Covanta from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. Robert W. Baird restated a “buy” rating and set a $19.00 target price on shares of Covanta in a research report on Wednesday, November 1st. Finally, Stifel Nicolaus restated a “buy” rating and set a $17.00 target price on shares of Covanta in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Covanta presently has an average rating of “Hold” and an average price target of $17.56.

In related news, Director John Vincent Hickey sold 90,000 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $0.29, for a total transaction of $26,100.00. Company insiders own 11.60% of the company’s stock.

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Covanta 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.

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Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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