Advisors Asset Management Inc. increased its stake in shares of Covanta Holding Corporation (NYSE:CVA) by 3.4% during the second quarter, Holdings Channel reports. The fund owned 1,750,364 shares of the energy company’s stock after buying an additional 57,455 shares during the period. Advisors Asset Management Inc.’s holdings in Covanta Holding Corporation were worth $23,105,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 valued at $148,408,000 after buying an additional 395,551 shares during the last quarter. BlackRock Inc. raised 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 valued at $92,706,000 after buying an additional 5,871,354 shares during the last quarter. RidgeWorth Capital Management LLC raised 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 valued at $65,195,000 after buying an additional 1,226,577 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Covanta Holding Corporation by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,170,053 shares of the energy company’s stock valued at $34,069,000 after buying an additional 75,707 shares during the last quarter. Finally, Snyder Capital Management L P raised its position in shares of Covanta Holding Corporation by 4.4% in the first quarter. Snyder Capital Management L P now owns 2,155,550 shares of the energy company’s stock valued at $33,842,000 after buying an additional 90,307 shares during the last quarter. 90.04% of the stock is owned by hedge funds and other institutional investors.

Covanta Holding Corporation (NYSE CVA) opened at 13.85 on Friday. The stock’s 50 day moving average is $13.79 and its 200 day moving average is $14.77. The stock’s market capitalization is $1.80 billion. Covanta Holding Corporation has a 12-month low of $13.00 and a 12-month high of $16.50.

Covanta Holding Corporation (NYSE:CVA) last released its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. The company had revenue of $424 million for the quarter, compared to analysts’ expectations of $416.18 million. During the same quarter last year, the company earned ($0.22) EPS. Covanta Holding Corporation’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities research analysts forecast that Covanta Holding Corporation will post ($0.23) EPS for the current fiscal year.

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Several equities analysts recently commented on CVA shares. BidaskClub raised shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Robert W. Baird raised shares of Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price target for the company in a research report on Monday, May 15th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Finally, Barclays PLC raised shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $16.00 to $15.00 in a research report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock presently 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 that occurred 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 completion of the sale, the insider now owns 30,639 shares in the company, valued at $444,265.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.60% of the stock is owned by corporate insiders.

Covanta Holding Corporation Company Profile

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.

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

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