Covanta Holding Corporation (CVA) Shares Bought by Hahn Capital Management LLC
Hahn Capital Management LLC lifted its holdings in shares of Covanta Holding Corporation (NYSE:CVA) by 1.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,150,305 shares of the energy company’s stock after buying an additional 10,906 shares during the period. Hahn Capital Management LLC owned about 0.88% of Covanta worth $17,082,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Citigroup Inc. raised its holdings in shares of Covanta by 1.0% during the 2nd quarter. Citigroup Inc. now owns 16,236 shares of the energy company’s stock worth $214,000 after buying an additional 159 shares in the last quarter. Verition Fund Management LLC grew its position in Covanta by 9.7% during the 2nd quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock worth $155,000 after acquiring an additional 1,039 shares during the last quarter. Teachers Advisors LLC grew its position in Covanta by 0.7% during the 1st quarter. Teachers Advisors LLC now owns 157,733 shares of the energy company’s stock worth $2,476,000 after acquiring an additional 1,101 shares during the last quarter. KBC Group NV grew its position in Covanta by 5.2% during the 2nd quarter. KBC Group NV now owns 36,481 shares of the energy company’s stock worth $482,000 after acquiring an additional 1,795 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Covanta by 42.1% during the 2nd quarter. IFP Advisors Inc now owns 8,927 shares of the energy company’s stock worth $118,000 after acquiring an additional 2,647 shares during the last quarter. 94.78% of the stock is owned by institutional investors.
In other Covanta news, 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 own 11.60% of the company’s stock.
Covanta (NYSE:CVA) last released its quarterly 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. Covanta had a negative return on equity of 12.66% and a negative net margin of 3.68%. The firm had revenue of $429.00 million for the quarter, compared to analyst estimates of $421.87 million. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue was up 1.9% on a year-over-year basis. sell-side analysts anticipate that Covanta Holding Corporation will post -0.26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 29th will be given a $0.25 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.67%. Covanta’s dividend payout ratio (DPR) is presently -200.00%.
CVA has been the topic of a number of research reports. Robert W. Baird restated a “buy” rating and set a $17.00 price objective on shares of Covanta in a research report on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and set a $17.00 price objective on shares of Covanta in a research report on Tuesday, September 5th. Zacks Investment Research upgraded Covanta from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. Finally, BMO Capital Markets boosted their price objective on Covanta from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $17.69.
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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