Covanta Holding Corp. (NYSE:CVA) Director Robert S. Silberman purchased 2,000 shares of Covanta Holding Corp. stock in a transaction dated Monday, November 14th. The shares were purchased at an average price of $14.73 per share, with a total value of $29,460.00. Following the completion of the acquisition, the director now owns 66,500 shares in the company, valued at $979,545. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Covanta Holding Corp. (NYSE:CVA) traded down 3.64% during mid-day trading on Wednesday, hitting $14.55. The stock had a trading volume of 1,616,579 shares. The stock’s 50 day moving average price is $14.80 and its 200 day moving average price is $15.66. Covanta Holding Corp. has a one year low of $12.48 and a one year high of $17.75. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 29.04 and a beta of 0.76.

Covanta Holding Corp. (NYSE:CVA) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The business earned $421 million during the quarter, compared to the consensus estimate of $421.72 million. Covanta Holding Corp. had a negative return on equity of 4.97% and a net margin of 3.88%. Covanta Holding Corp.’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. Analysts forecast that Covanta Holding Corp. will post ($0.10) EPS for the current year.

Several equities research analysts have recently issued reports on the company. Barclays PLC upgraded Covanta Holding Corp. from an “equal weight” rating to an “overweight” rating and set a $16.00 price target for the company in a report on Monday, November 7th. Zacks Investment Research lowered Covanta Holding Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $20.00 target price on shares of Covanta Holding Corp. in a report on Friday, September 23rd. Macquarie initiated coverage on Covanta Holding Corp. in a report on Thursday, August 25th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Imperial Capital reduced their target price on Covanta Holding Corp. from $18.50 to $18.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.82.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital International Investors increased its position in Covanta Holding Corp. by 11.3% in the second quarter. Capital International Investors now owns 13,127,185 shares of the company’s stock worth $215,942,000 after buying an additional 1,335,132 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Covanta Holding Corp. by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 8,867,574 shares of the company’s stock worth $145,870,000 after buying an additional 247,452 shares in the last quarter. Vanguard Group Inc. increased its position in Covanta Holding Corp. by 1.5% in the second quarter. Vanguard Group Inc. now owns 8,675,038 shares of the company’s stock worth $142,704,000 after buying an additional 131,190 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Covanta Holding Corp. by 7.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,298,175 shares of the company’s stock worth $54,255,000 after buying an additional 224,743 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its position in Covanta Holding Corp. by 1.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 3,024,603 shares of the company’s stock worth $49,755,000 after buying an additional 57,426 shares in the last quarter. Institutional investors and hedge funds own 80.31% of the company’s stock.

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.

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