Covanta Holding Corp. (NYSE:CVA) has been assigned an average recommendation of “Buy” from the eleven research firms that are currently covering the firm. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $17.56.

CVA has been the topic of several recent research reports. Zacks Investment Research lowered shares of Covanta Holding Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 20th. Imperial Capital decreased their target price on shares of Covanta Holding Corp. from $18.50 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $20.00 target price on shares of Covanta Holding Corp. in a research report on Friday, September 23rd. Barclays PLC decreased their target price on shares of Covanta Holding Corp. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 9th. Finally, Macquarie initiated coverage on shares of Covanta Holding Corp. in a research report on Thursday, August 25th. They set a “neutral” rating and a $18.00 target price on the stock.

In other Covanta Holding Corp. news, Director Ronald J. Broglio sold 4,500 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $15.78, for a total value of $71,010.00. Following the completion of the transaction, the director now directly owns 4,529 shares of the company’s stock, valued at $71,467.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.80% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Covanta Holding Corp. by 54.5% in the second quarter. IFP Advisors Inc now owns 6,521 shares of the company’s stock worth $107,000 after buying an additional 2,301 shares in the last quarter. Sei Investments Co. increased its position in shares of Covanta Holding Corp. by 56.8% in the second quarter. Sei Investments Co. now owns 8,617 shares of the company’s stock worth $142,000 after buying an additional 3,120 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Covanta Holding Corp. by 2.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,763 shares of the company’s stock worth $144,000 after buying an additional 185 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Covanta Holding Corp. by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 8,806 shares of the company’s stock worth $145,000 after buying an additional 1,054 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Covanta Holding Corp. by 5.5% in the second quarter. Glenmede Trust Co. NA now owns 9,507 shares of the company’s stock worth $156,000 after buying an additional 496 shares in the last quarter. 80.14% of the stock is owned by institutional investors.

Covanta Holding Corp. (NYSE:CVA) traded down 1.159% during trading on Thursday, reaching $14.925. 150,193 shares of the company’s stock were exchanged. The company’s 50-day moving average is $15.01 and its 200-day moving average is $16.00. The company has a market capitalization of $1.93 billion, a PE ratio of 43.261 and a beta of 0.57. Covanta Holding Corp. has a 1-year low of $12.48 and a 1-year high of $18.17.

Covanta Holding Corp. (NYSE:CVA) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.17. Covanta Holding Corp. had a negative return on equity of 3.48% and a net margin of 2.69%. The company had revenue of $418 million for the quarter, compared to the consensus estimate of $410.38 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts expect that Covanta Holding Corp. will post ($0.11) earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Monday, October 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date was Thursday, September 29th. Covanta Holding Corp.’s dividend payout ratio is presently 322.58%.

About Covanta Holding Corp.

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. It operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.

5 Day Chart for NYSE:CVA

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