Clearbridge Investments LLC grew its holdings in Covanta Holding Corp (NYSE:CVA) by 68.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,720 shares of the energy company’s stock after acquiring an additional 48,124 shares during the period. Clearbridge Investments LLC owned about 0.09% of Covanta worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CVA. Norges Bank purchased a new stake in shares of Covanta in the 4th quarter valued at $63,884,000. Russell Investments Group Ltd. boosted its holdings in Covanta by 84.9% during the first quarter. Russell Investments Group Ltd. now owns 854,145 shares of the energy company’s stock worth $7,304,000 after buying an additional 392,124 shares in the last quarter. Man Group plc purchased a new stake in Covanta during the fourth quarter worth $4,162,000. Frontier Capital Management Co. LLC boosted its holdings in Covanta by 34.5% during the first quarter. Frontier Capital Management Co. LLC now owns 1,072,270 shares of the energy company’s stock worth $9,168,000 after buying an additional 274,942 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Covanta by 307.2% during the first quarter. Baird Financial Group Inc. now owns 356,842 shares of the energy company’s stock worth $3,051,000 after buying an additional 269,210 shares in the last quarter. 72.41% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Ronald J. Broglio sold 6,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $9.78, for a total value of $58,680.00. Following the completion of the sale, the director now directly owns 13,567 shares in the company, valued at $132,685.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is owned by corporate insiders.

A number of analysts recently issued reports on CVA shares. Goldman Sachs Group downgraded shares of Covanta from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $17.00 to $10.00 in a report on Thursday, April 2nd. Stifel Nicolaus raised shares of Covanta from a “sell” rating to a “hold” rating and set a $9.50 price target on the stock in a report on Sunday, May 10th. BMO Capital Markets lowered their price target on shares of Covanta to $7.00 and set a “market perform” rating on the stock in a report on Sunday, April 19th. UBS Group raised shares of Covanta from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $14.00 to $13.00 in a report on Wednesday, May 13th. Finally, Zacks Investment Research downgraded shares of Covanta from a “hold” rating to a “sell” rating and set a $10.00 price objective on the stock. in a report on Thursday, June 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Covanta currently has an average rating of “Hold” and an average target price of $11.44.

CVA opened at $9.10 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 8.35. Covanta Holding Corp has a 52-week low of $6.57 and a 52-week high of $18.24. The firm’s fifty day simple moving average is $9.20 and its two-hundred day simple moving average is $11.51.

Covanta (NYSE:CVA) last issued its earnings results on Thursday, May 7th. The energy company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.02). The business had revenue of $468.00 million during the quarter, compared to analyst estimates of $458.18 million. Covanta had a negative net margin of 1.43% and a negative return on equity of 7.34%. Covanta’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. Equities research analysts expect that Covanta Holding Corp will post -0.37 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Thursday, June 25th. Covanta’s dividend payout ratio (DPR) is 457.14%.

Covanta Company Profile

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.

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Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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