Teacher Retirement System of Texas reduced its stake in shares of Covanta Holding Corp. (NYSE:CVA) by 16.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 710,757 shares of the company’s stock after selling 140,289 shares during the period. Teacher Retirement System of Texas owned approximately 0.55% of Covanta Holding Corp. worth $10,939,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CVA. IFP Advisors Inc raised its stake in Covanta Holding Corp. by 54.5% in the second quarter. IFP Advisors Inc now owns 6,521 shares of the company’s stock valued at $107,000 after buying an additional 2,301 shares during the period. Sei Investments Co. raised its stake in Covanta Holding Corp. by 56.8% in the second quarter. Sei Investments Co. now owns 8,617 shares of the company’s stock valued at $142,000 after buying an additional 3,120 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in 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 valued at $144,000 after buying an additional 185 shares during the period. JPMorgan Chase & Co. raised its stake in Covanta Holding Corp. by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 8,806 shares of the company’s stock valued at $145,000 after buying an additional 1,054 shares during the period. Finally, Glenmede Trust Co. NA raised its stake in Covanta Holding Corp. by 5.5% in the second quarter. Glenmede Trust Co. NA now owns 9,507 shares of the company’s stock valued at $156,000 after buying an additional 496 shares during the period. 80.01% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Covanta Holding Corp. (NYSE:CVA)

Covanta Holding Corp. (NYSE:CVA) traded up 0.172% during trading on Wednesday, hitting $14.575. The stock had a trading volume of 1,062,007 shares. Covanta Holding Corp. has a 1-year low of $12.48 and a 1-year high of $17.75. The firm’s 50 day moving average is $14.71 and its 200 day moving average is $15.55. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 29.092 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. Covanta Holding Corp. had a negative return on equity of 4.97% and a net margin of 3.88%. The company had revenue of $421 million for the quarter, compared to the consensus estimate of $421.72 million. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts anticipate that Covanta Holding Corp. will post ($0.10) earnings per share for the current year.

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Several analysts have weighed in on the company. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $20.00 target price on shares of Covanta Holding Corp. in a report on Friday, September 23rd. Zacks Investment Research raised Covanta Holding Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Friday, October 21st. Barclays PLC raised Covanta Holding Corp. from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective on the stock in a research note on Monday, November 7th. Finally, Macquarie started coverage on Covanta Holding Corp. in a research note on Thursday, August 25th. They set a “neutral” rating and a $18.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $17.82.

In other news, Director Robert S. Silberman acquired 2,000 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were bought at an average price of $14.73 per share, with a total value of $29,460.00. Following the purchase, the director now owns 66,500 shares of the company’s stock, valued at $979,545. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.80% of the stock is owned by insiders.

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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