Adirondack Research & Management Inc. raised its stake in Covanta Holding Corporation (NYSE:CVA) by 7.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 337,297 shares of the energy company’s stock after purchasing an additional 24,179 shares during the quarter. Covanta Holding Corporation accounts for 2.0% of Adirondack Research & Management Inc.’s portfolio, making the stock its 17th biggest position. Adirondack Research & Management Inc. owned 0.26% of Covanta Holding Corporation worth $5,009,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Nationwide Fund Advisors lifted its position in Covanta Holding Corporation by 326.4% in the second quarter. Nationwide Fund Advisors now owns 68,021 shares of the energy company’s stock valued at $898,000 after purchasing an additional 52,068 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Covanta Holding Corporation by 91.9% in the second quarter. Pinnacle Associates Ltd. now owns 197,474 shares of the energy company’s stock valued at $2,607,000 after purchasing an additional 94,548 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Covanta Holding Corporation by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 2,248,100 shares of the energy company’s stock valued at $29,675,000 after purchasing an additional 78,047 shares during the last quarter. Marathon Capital Management bought a new stake in Covanta Holding Corporation in the second quarter valued at approximately $1,328,000. Finally, PARK CIRCLE Co lifted its position in Covanta Holding Corporation by 47.7% in the second quarter. PARK CIRCLE Co now owns 32,500 shares of the energy company’s stock valued at $429,000 after purchasing an additional 10,500 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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Shares of Covanta Holding Corporation (NYSE:CVA) traded down $0.30 during trading on Friday, hitting $14.80. The company had a trading volume of 1,430,099 shares, compared to its average volume of 1,114,756. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 8.39. Covanta Holding Corporation has a one year low of $13.00 and a one year high of $16.50.

Covanta Holding Corporation (NYSE:CVA) last announced its earnings results on Thursday, October 26th. The energy company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $429.00 million during 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 firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. equities analysts predict that Covanta Holding Corporation will post -0.26 earnings per share for the current fiscal year.

Several analysts have weighed in on CVA shares. Zacks Investment Research downgraded Covanta Holding Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. BidaskClub upgraded Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $17.00 price objective on shares of Covanta Holding Corporation in a research report on Tuesday, September 5th. Robert W. Baird reiterated a “buy” rating and issued a $17.00 price objective on shares of Covanta Holding Corporation in a research report on Friday, October 6th. Finally, BMO Capital Markets upgraded Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $16.00 to $17.00 in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Covanta Holding Corporation currently has an average rating of “Hold” and an average target price of $17.69.

In related news, Director Robert Brian Murray sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $0.25, for a total transaction of $37,500.00. Also, Director John Vincent Hickey sold 90,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $0.29, for a total value of $26,100.00. In the last 90 days, insiders have sold 310,000 shares of company stock valued at $83,200. 11.60% of the stock is owned by corporate insiders.

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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