First Trust Advisors LP lowered its stake in Covanta Holding Corporation (NYSE:CVA) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 385,234 shares of the energy company’s stock after selling 57,633 shares during the period. First Trust Advisors LP owned about 0.30% of Covanta Holding Corporation worth $5,085,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Teachers Advisors LLC increased its position in Covanta Holding Corporation by 46.6% in the fourth quarter. Teachers Advisors LLC now owns 156,632 shares of the energy company’s stock valued at $2,443,000 after buying an additional 49,777 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Covanta Holding Corporation by 49.7% in the first quarter. Nisa Investment Advisors LLC now owns 29,500 shares of the energy company’s stock worth $463,000 after buying an additional 9,800 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Covanta Holding Corporation by 17.3% in the first quarter. Wells Fargo & Company MN now owns 566,739 shares of the energy company’s stock worth $8,898,000 after buying an additional 83,547 shares during the last quarter. OLD National Bancorp IN boosted its stake in Covanta Holding Corporation by 46.1% in the first quarter. OLD National Bancorp IN now owns 30,668 shares of the energy company’s stock worth $481,000 after buying an additional 9,677 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in 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 worth $34,069,000 after buying an additional 75,707 shares during the last quarter. Institutional investors own 96.24% of the company’s stock.

Shares of Covanta Holding Corporation (CVA) opened at 14.35 on Friday. The company has a 50-day moving average of $13.96 and a 200-day moving average of $14.58. The company’s market cap is $1.87 billion. Covanta Holding Corporation has a 1-year low of $13.00 and a 1-year high of $16.50.

Covanta Holding Corporation (NYSE:CVA) last issued its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.22) earnings per share for the quarter, missing the 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 business had revenue of $424 million during the quarter, compared to analyst estimates of $416.18 million. During the same quarter last year, the firm earned ($0.22) EPS. Covanta Holding Corporation’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts forecast that Covanta Holding Corporation will post ($0.23) EPS for the current year.

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A number of research firms recently weighed in on CVA. Stifel Nicolaus raised shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $15.50 to $17.00 in a research note on Monday, July 31st. BMO Capital Markets raised shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and upped their target price for the company from $16.00 to $17.00 in a research note on Monday, July 31st. Barclays PLC raised shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $16.00 to $15.00 in a research note on Wednesday, July 12th. BidaskClub cut shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Finally, Robert W. Baird raised shares of Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 target price on the stock in a research note on Monday, May 15th. Three analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus 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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