Shares of Covanta Holding Corp (NYSE:CVA) have been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $17.00.

Several research analysts recently issued reports on CVA shares. BMO Capital Markets reissued a “buy” rating and set a $18.00 target price on shares of Covanta in a report on Tuesday, January 8th. ValuEngine raised shares of Covanta from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Goldman Sachs Group raised shares of Covanta from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $16.50 to $19.00 in a research note on Monday, February 4th. Raymond James cut their target price on shares of Covanta from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Monday, October 29th. Finally, Barclays began coverage on shares of Covanta in a research report on Monday, January 7th. They set an “equal weight” rating and a $16.00 price target on the stock.

In other Covanta news, EVP Castro Michael Joseph De purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The stock was purchased at an average price of $13.36 per share, for a total transaction of $133,600.00. Following the purchase, the executive vice president now directly owns 78,008 shares in the company, valued at $1,042,186.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew Mulcahy sold 13,000 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $16.53, for a total transaction of $214,890.00. Following the completion of the sale, the executive vice president now owns 88,094 shares of the company’s stock, valued at approximately $1,456,193.82. The disclosure for this sale can be found here. 10.90% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Covanta by 1.2% in the third quarter. Vanguard Group Inc. now owns 10,979,079 shares of the energy company’s stock valued at $178,410,000 after buying an additional 133,161 shares during the period. Vanguard Group Inc increased its position in Covanta by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 10,979,079 shares of the energy company’s stock valued at $178,410,000 after buying an additional 133,161 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Covanta by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,005,001 shares of the energy company’s stock valued at $65,082,000 after purchasing an additional 20,762 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Covanta by 73.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,713,902 shares of the energy company’s stock worth $49,839,000 after buying an additional 1,567,453 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in Covanta by 0.8% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,263,576 shares of the energy company’s stock worth $20,596,000 after purchasing an additional 9,437 shares during the period. Institutional investors and hedge funds own 80.29% of the company’s stock.

Shares of NYSE:CVA traded up $0.06 on Wednesday, hitting $17.43. 44,175 shares of the company were exchanged, compared to its average volume of 679,479. Covanta has a 1-year low of $12.92 and a 1-year high of $18.05. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 4.87. The company has a market capitalization of $2.28 billion, a P/E ratio of -47.04, a PEG ratio of 11.58 and a beta of 1.32.

Covanta Company Profile

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.

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Analyst Recommendations for Covanta (NYSE:CVA)

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