Commonwealth Equity Services LLC Trims Position in Covanta Holding Co. (NYSE:CVA)

Commonwealth Equity Services LLC lessened its holdings in shares of Covanta Holding Co. (NYSE:CVA) by 49.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,565 shares of the energy company’s stock after selling 22,470 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Covanta were worth $312,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CVA. AE Wealth Management LLC increased its holdings in shares of Covanta by 1.7% during the 1st quarter. AE Wealth Management LLC now owns 59,833 shares of the energy company’s stock worth $829,000 after buying an additional 1,011 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Covanta by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 19,899 shares of the energy company’s stock worth $261,000 after buying an additional 1,226 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Covanta by 2.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 71,225 shares of the energy company’s stock worth $935,000 after buying an additional 1,576 shares during the last quarter. Adirondack Research & Management Inc. increased its holdings in shares of Covanta by 1.3% during the 1st quarter. Adirondack Research & Management Inc. now owns 136,821 shares of the energy company’s stock worth $1,896,000 after buying an additional 1,700 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Covanta by 15.4% during the 4th quarter. Brown Advisory Inc. now owns 12,820 shares of the energy company’s stock worth $169,000 after buying an additional 1,714 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

Shares of NYSE CVA opened at $17.48 on Friday. Covanta Holding Co. has a 12-month low of $7.44 and a 12-month high of $17.76. The firm has a market cap of $2.32 billion, a P/E ratio of 437.11 and a beta of 1.38. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 8.71. The firm has a fifty day moving average of $14.57.

Covanta (NYSE:CVA) last announced its earnings results on Thursday, April 29th. The energy company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.15. The company had revenue of $498.00 million during the quarter, compared to the consensus estimate of $471.63 million. Covanta had a return on equity of 2.06% and a net margin of 0.31%. As a group, equities analysts predict that Covanta Holding Co. will post 0.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 2nd. Stockholders of record on Thursday, June 24th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, June 23rd. This represents a $0.32 annualized dividend and a dividend yield of 1.83%. Covanta’s dividend payout ratio is presently -152.38%.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Covanta from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, March 15th. Raymond James reiterated a “hold” rating on shares of Covanta in a report on Monday, February 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Covanta presently has a consensus rating of “Buy” and an average price target of $14.13.

Covanta Profile

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

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Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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