Covanta Holding Corporation (NYSE:CVA) released its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.04, Bloomberg Earnings reports. The company had revenue of $424 million during the quarter, compared to analysts’ expectations of $416.18 million. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) earnings per share.

Shares of Covanta Holding Corporation (CVA) opened at 14.50 on Wednesday. The stock’s 50 day moving average price is $13.76 and its 200 day moving average price is $14.83. Covanta Holding Corporation has a 12 month low of $13.00 and a 12 month high of $16.50. The stock’s market capitalization is $1.89 billion.

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A number of equities research analysts recently commented on the company. BidaskClub raised Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BMO Capital Markets raised Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and increased their price target for the company from $16.00 to $17.00 in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Stifel Nicolaus raised Covanta Holding Corporation from a “hold” rating to a “buy” rating and increased their price target for the company from $15.50 to $17.00 in a research report on Monday, July 31st. Finally, Zacks Investment Research lowered Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Covanta Holding Corporation currently has a consensus rating of “Hold” and a consensus target price of $17.28.

In other news, insider Paul E. Stauder sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $14.50, for a total transaction of $36,250.00. Following the transaction, the insider now directly owns 30,639 shares of the company’s stock, valued at $444,265.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 11.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Covanta Holding Corporation by 4.4% in the first quarter. Vanguard Group Inc. now owns 9,452,767 shares of the energy company’s stock worth $148,408,000 after buying an additional 395,551 shares during the last quarter. BlackRock Inc. increased its position in shares of Covanta Holding Corporation by 17,486.2% in the first quarter. BlackRock Inc. now owns 5,904,931 shares of the energy company’s stock worth $92,706,000 after buying an additional 5,871,354 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Covanta Holding Corporation by 11.9% in the second quarter. Neuberger Berman Group LLC now owns 5,817,457 shares of the energy company’s stock worth $76,790,000 after buying an additional 616,425 shares during the last quarter. RidgeWorth Capital Management LLC increased its position in shares of Covanta Holding Corporation by 42.9% in the first quarter. RidgeWorth Capital Management LLC now owns 4,087,721 shares of the energy company’s stock worth $65,195,000 after buying an additional 1,226,577 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Covanta Holding Corporation by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 2,248,100 shares of the energy company’s stock worth $29,675,000 after buying an additional 78,047 shares during the last quarter. 90.04% of the stock is currently owned by hedge funds and other institutional investors.

About Covanta Holding Corporation

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

Earnings History for Covanta Holding Corporation (NYSE:CVA)

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