Franklin Resources Inc. continued to hold its position in Covanta Holding Corporation (NYSE:CVA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,100 shares of the energy company’s stock at the close of the 2nd quarter. Franklin Resources Inc.’s holdings in Covanta Holding Corporation were worth $345,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in 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 acquiring an additional 5,871,354 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in shares of Covanta Holding Corporation by 41.7% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,179,991 shares of the energy company’s stock valued at $41,976,000 after purchasing an additional 936,309 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Covanta Holding Corporation by 11.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,817,457 shares of the energy company’s stock valued at $76,790,000 after purchasing an additional 616,425 shares during the period. Bank of America Corp DE grew its stake in shares of Covanta Holding Corporation by 125.4% during the 1st quarter. Bank of America Corp DE now owns 1,017,315 shares of the energy company’s stock valued at $15,971,000 after purchasing an additional 565,920 shares during the period. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Covanta Holding Corporation by 25.7% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,096,392 shares of the energy company’s stock valued at $27,672,000 after purchasing an additional 429,071 shares during the period. Institutional investors own 96.22% of the company’s stock.

Several equities research analysts have recently commented on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $17.00 price target on shares of Covanta Holding Corporation in a research report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and issued a $17.00 price objective on shares of Covanta Holding Corporation in a report on Tuesday, September 5th. Zacks Investment Research raised shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Barclays PLC upgraded shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $16.00 to $15.00 in a research report on Wednesday, July 12th. Finally, BMO Capital Markets started coverage on shares of Covanta Holding Corporation in a research report on Thursday, June 29th. They set a “market perform” rating and a $16.00 target price for the company. Three analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Covanta Holding Corporation currently has a consensus rating of “Hold” and an average price target of $17.19.

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Covanta Holding Corporation (NYSE:CVA) opened at 15.25 on Wednesday. Covanta Holding Corporation has a 1-year low of $13.00 and a 1-year high of $16.50. The stock has a 50 day moving average price of $14.33 and a 200 day moving average price of $14.39. The company’s market cap is $1.98 billion.

Covanta Holding Corporation (NYSE:CVA) last posted its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The business had revenue of $424.00 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%. Covanta Holding Corporation’s revenue for the quarter 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. On average, equities research analysts anticipate that Covanta Holding Corporation will post ($0.23) EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Thursday, September 28th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.56%. Covanta Holding Corporation’s payout ratio is currently -526.29%.

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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