Covanta Holding Corp (NYSE:CVA) has been given a consensus recommendation of “Buy” by the nine ratings firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $17.00.

Several analysts have commented on the stock. ValuEngine cut shares of Covanta from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Covanta from a “strong sell” rating to a “hold” rating and set a $14.00 target price for the company in a research note on Wednesday, July 31st.

In other news, EVP Castro Michael Joseph De sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $17.08, for a total transaction of $170,800.00. Following the completion of the sale, the executive vice president now directly owns 90,203 shares of the company’s stock, valued at approximately $1,540,667.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul E. Stauder sold 2,996 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $17.25, for a total transaction of $51,681.00. Following the sale, the insider now directly owns 51,599 shares of the company’s stock, valued at $890,082.75. The disclosure for this sale can be found here. Insiders have sold a total of 24,996 shares of company stock valued at $428,161 over the last three months. Corporate insiders own 11.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new stake in Covanta during the 2nd quarter worth $33,000. Strs Ohio purchased a new stake in Covanta during the 2nd quarter worth $48,000. Advisory Services Network LLC boosted its position in Covanta by 80.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,795 shares of the energy company’s stock worth $50,000 after purchasing an additional 1,244 shares during the period. TRUE Private Wealth Advisors purchased a new stake in Covanta during the 2nd quarter worth $57,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Covanta by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,429 shares of the energy company’s stock worth $169,000 after purchasing an additional 2,800 shares during the period. 78.25% of the stock is owned by institutional investors.

CVA stock traded up $0.32 during midday trading on Monday, hitting $17.07. The stock had a trading volume of 577,924 shares, compared to its average volume of 691,972. The firm has a market cap of $2.14 billion, a PE ratio of -170.70, a price-to-earnings-growth ratio of 23.23 and a beta of 1.33. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.30 and a quick ratio of 1.30. Covanta has a 12-month low of $12.92 and a 12-month high of $18.38. The company’s 50-day moving average price is $17.21 and its 200 day moving average price is $17.39.

Covanta (NYSE:CVA) last released its earnings results on Thursday, July 25th. The energy company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.07). The firm had revenue of $467.00 million during the quarter, compared to analysts’ expectations of $467.05 million. Covanta had a negative return on equity of 3.22% and a negative net margin of 1.81%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. As a group, sell-side analysts anticipate that Covanta will post 0.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 27th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.00 annualized dividend and a dividend yield of 5.86%. Covanta’s dividend payout ratio is presently -1,000.00%.

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.

Recommended Story: Street Name

Analyst Recommendations for Covanta (NYSE:CVA)

Receive News & Ratings for Covanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Covanta and related companies with MarketBeat.com's FREE daily email newsletter.