Janney Montgomery Scott LLC lifted its stake in shares of Covanta Holding Corp (NYSE:CVA) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,160 shares of the energy company’s stock after acquiring an additional 10,433 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Covanta were worth $1,422,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Winslow Evans & Crocker Inc. bought a new position in shares of Covanta during the fourth quarter valued at approximately $28,000. Trust Co. of Vermont boosted its stake in Covanta by 1,000.0% in the fourth quarter. Trust Co. of Vermont now owns 2,288 shares of the energy company’s stock valued at $31,000 after acquiring an additional 2,080 shares in the last quarter. IFP Advisors Inc boosted its stake in Covanta by 79.6% in the fourth quarter. IFP Advisors Inc now owns 4,000 shares of the energy company’s stock valued at $53,000 after acquiring an additional 1,773 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Covanta in the fourth quarter valued at approximately $55,000. Finally, First Interstate Bank boosted its stake in Covanta by 50.0% in the fourth quarter. First Interstate Bank now owns 6,000 shares of the energy company’s stock valued at $81,000 after acquiring an additional 2,000 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of Covanta stock opened at $17.78 on Thursday. The company has a debt-to-equity ratio of 5.56, a current ratio of 1.23 and a quick ratio of 1.23. Covanta Holding Corp has a 1 year low of $12.92 and a 1 year high of $18.25. The firm has a market cap of $2.30 billion, a P/E ratio of -177.80, a price-to-earnings-growth ratio of 5.63 and a beta of 1.36.

Covanta (NYSE:CVA) last issued its earnings results on Thursday, April 25th. The energy company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.21. Covanta had a negative net margin of 2.36% and a positive return on equity of 0.79%. The firm had revenue of $453.00 million during the quarter, compared to analysts’ expectations of $453.72 million. During the same quarter last year, the company posted ($0.09) earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that Covanta Holding Corp will post 0.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.00 annualized dividend and a dividend yield of 5.62%. Covanta’s dividend payout ratio (DPR) is presently -1,000.00%.

CVA has been the subject of several recent analyst reports. ValuEngine upgraded shares of Covanta from a “hold” rating to a “buy” rating in a research note on Saturday, January 19th. Goldman Sachs Group upgraded shares of Covanta from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.50 to $19.00 in a research note on Monday, February 4th. Zacks Investment Research downgraded shares of Covanta from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. TheStreet upgraded shares of Covanta from a “c” rating to a “b-” rating in a research note on Thursday, February 14th. Finally, BMO Capital Markets raised their target price on shares of Covanta from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $17.50.

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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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Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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