Covanta (NYSE:CVA) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
Other equities analysts also recently issued research reports about the company. Oppenheimer restated a “buy” rating and set a $19.00 target price on shares of Covanta in a research report on Tuesday, December 19th. Zacks Investment Research downgraded Covanta from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Finally, Goldman Sachs Group upgraded Covanta from a “sell” rating to a “neutral” rating and set a $16.00 target price for the company in a research report on Sunday, January 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $18.00.
Covanta (NYSE:CVA) opened at $15.35 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 5.83. The company has a market capitalization of $2,010.00, a P/E ratio of -16.16, a P/E/G ratio of 14.62 and a beta of 0.71. Covanta has a 52-week low of $13.00 and a 52-week high of $17.30.
In related news, insider Paul E. Stauder sold 3,000 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $14.90, for a total transaction of $44,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC acquired a new stake in shares of Covanta in the 4th quarter valued at $12,994,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Covanta by 33.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 476,217 shares of the energy company’s stock worth $7,072,000 after purchasing an additional 119,049 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Covanta by 14.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,014,920 shares of the energy company’s stock worth $15,072,000 after purchasing an additional 126,880 shares during the period. Community Bank & Trust Waco Texas grew its stake in shares of Covanta by 48.9% during the fourth quarter. Community Bank & Trust Waco Texas now owns 28,303 shares of the energy company’s stock worth $478,000 after purchasing an additional 9,300 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Covanta during the third quarter worth $1,672,000. 91.51% of the stock is owned by hedge funds and other institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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