First Trust Advisors LP grew its holdings in Covanta Holding Corporation (NYSE:CVA) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 392,220 shares of the energy company’s stock after purchasing an additional 6,986 shares during the period. First Trust Advisors LP owned approximately 0.30% of Covanta Holding Corporation worth $5,824,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Harrington Investments INC acquired a new position in shares of Covanta Holding Corporation in the 3rd quarter valued at $399,000. Advisors Capital Management LLC lifted its stake in shares of Covanta Holding Corporation by 3.1% in the 3rd quarter. Advisors Capital Management LLC now owns 210,660 shares of the energy company’s stock valued at $3,128,000 after purchasing an additional 6,402 shares during the last quarter. Ecofin Ltd. lifted its stake in shares of Covanta Holding Corporation by 14.1% in the 2nd quarter. Ecofin Ltd. now owns 615,122 shares of the energy company’s stock valued at $8,120,000 after purchasing an additional 76,151 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Covanta Holding Corporation by 9.7% in the 2nd quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock valued at $155,000 after purchasing an additional 1,039 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Covanta Holding Corporation by 2,256.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 89,368 shares of the energy company’s stock valued at $1,180,000 after purchasing an additional 85,576 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of Covanta Holding Corporation (NYSE:CVA) opened at $15.00 on Thursday. The company has a debt-to-equity ratio of 8.39, a quick ratio of 1.21 and a current ratio of 1.21. 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 posted its quarterly earnings data on Thursday, October 26th. The energy company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The firm had revenue of $429.00 million for the quarter, compared to the consensus estimate of $421.87 million. Covanta Holding Corporation had a negative return on equity of 12.66% and a negative net margin of 3.68%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 EPS. sell-side analysts anticipate that Covanta Holding Corporation will post -0.26 EPS for the current year.

In related news, Director Robert Brian Murray sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $0.25, for a total value of $37,500.00. Also, Director John Vincent Hickey sold 90,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $0.29, for a total value of $26,100.00. Insiders sold a total of 310,000 shares of company stock worth $83,200 in the last quarter. Company insiders own 11.60% of the company’s stock.

CVA has been the topic of several recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and issued a $17.00 price target on shares of Covanta Holding Corporation in a research note on Friday, September 1st. Zacks Investment Research lowered Covanta Holding Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $17.00 price target on shares of Covanta Holding Corporation in a research note on Tuesday, September 5th. BMO Capital Markets upped their price target on Covanta Holding Corporation from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, October 30th. Finally, BidaskClub lowered Covanta Holding Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Covanta Holding Corporation currently has a consensus rating of “Hold” and an average price target of $17.69.

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Covanta Holding Corporation 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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