Public Employees Retirement Association of Colorado reduced its position in shares of Covanta Holding Corporation (NYSE:CVA) by 14.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,496 shares of the energy company’s stock after selling 3,694 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Covanta Holding Corporation were worth $297,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Covanta Holding Corporation by 15.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,380 shares of the energy company’s stock worth $178,000 after buying an additional 1,500 shares in the last quarter. Clearbridge Investments LLC raised its position in Covanta Holding Corporation by 26.7% in the first quarter. Clearbridge Investments LLC now owns 11,989 shares of the energy company’s stock worth $188,000 after buying an additional 2,528 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Covanta Holding Corporation during the first quarter worth approximately $197,000. FMR LLC purchased a new position in Covanta Holding Corporation during the first quarter worth approximately $229,000. Finally, Tiedemann Wealth Management LLC purchased a new position in Covanta Holding Corporation during the first quarter worth approximately $239,000. 96.24% of the stock is currently owned by institutional investors.

Covanta Holding Corporation (CVA) opened at 14.25 on Thursday. Covanta Holding Corporation has a 12 month low of $13.00 and a 12 month high of $16.50. The company’s market cap is $1.85 billion. The company’s 50-day moving average is $13.87 and its 200-day moving average is $14.62.

Covanta Holding Corporation (NYSE:CVA) last released its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.04. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The company had revenue of $424 million for the quarter, compared to the consensus estimate of $416.18 million. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Covanta Holding Corporation will post ($0.23) earnings per share for the current year.

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A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. BMO Capital Markets raised shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $17.00 in a research report on Monday, July 31st. Stifel Nicolaus raised shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $15.50 to $17.00 in a research report on Monday, July 31st. Finally, 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. Three research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $17.19.

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.

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

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