34,695 Shares in Covanta Holding Corporation (CVA) Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP acquired a new position in Covanta Holding Corporation (NYSE:CVA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 34,695 shares of the energy company’s stock, valued at approximately $458,000.

Several other institutional investors have also bought and sold shares of the company. Wellington Shields & Co. LLC boosted its position in shares of Covanta Holding Corporation by 0.4% in the 2nd quarter. Wellington Shields & Co. LLC now owns 16,110 shares of the energy company’s stock worth $213,000 after purchasing an additional 71 shares in the last quarter. Lee Financial Co boosted its position in shares of Covanta Holding Corporation by 0.7% in the 2nd quarter. Lee Financial Co now owns 66,756 shares of the energy company’s stock worth $881,000 after purchasing an additional 450 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Covanta Holding Corporation by 0.3% in the 1st quarter. Van ECK Associates Corp now owns 179,808 shares of the energy company’s stock worth $2,823,000 after purchasing an additional 509 shares in the last quarter. M&T Bank Corp boosted its position in shares of Covanta Holding Corporation by 1.9% in the 1st quarter. M&T Bank Corp now owns 35,137 shares of the energy company’s stock worth $552,000 after purchasing an additional 668 shares in the last quarter. Finally, Viking Fund Management LLC boosted its position in shares of Covanta Holding Corporation by 1.3% in the 2nd quarter. Viking Fund Management LLC now owns 52,600 shares of the energy company’s stock worth $694,000 after purchasing an additional 700 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Shares of Covanta Holding Corporation (NYSE CVA) opened at 14.55 on Monday. The firm’s market cap is $1.89 billion. Covanta Holding Corporation has a 12 month low of $13.00 and a 12 month high of $16.50. The firm’s 50-day moving average price is $14.24 and its 200-day moving average price is $14.47.

Covanta Holding Corporation (NYSE:CVA) last posted its earnings results on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The business had revenue of $424.00 million during the quarter, compared to analysts’ expectations of $416.18 million. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company earned ($0.22) EPS. Analysts expect that Covanta Holding Corporation will post ($0.23) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Thursday, September 28th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.87%. The ex-dividend date is Wednesday, September 27th. Covanta Holding Corporation’s dividend payout ratio (DPR) is presently -526.29%.

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A number of analysts have recently weighed in on the company. Stifel Nicolaus raised Covanta Holding Corporation from a “hold” rating to a “buy” rating and raised their price objective for the stock from $15.50 to $17.00 in a research report on Monday, July 31st. BMO Capital Markets raised Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $16.00 to $17.00 in a research report on Monday, July 31st. Barclays PLC raised Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $16.00 to $15.00 in a research report on Wednesday, July 12th. BidaskClub cut Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Three research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.19.

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.

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Institutional Ownership by Quarter for Covanta Holding Corporation (NYSE:CVA)

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