California Public Employees Retirement System grew its stake in Covanta Holding Corp (NYSE:CVA) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 430,492 shares of the energy company’s stock after acquiring an additional 5,203 shares during the quarter. California Public Employees Retirement System owned about 0.33% of Covanta worth $7,275,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. grew its stake in Covanta by 1.3% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 7,414,679 shares of the energy company’s stock valued at $110,108,000 after purchasing an additional 93,775 shares during the last quarter. State Street Corp lifted its holdings in shares of Covanta by 46.7% in the 2nd quarter. State Street Corp now owns 2,510,700 shares of the energy company’s stock valued at $33,146,000 after buying an additional 799,767 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in shares of Covanta by 1.3% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 2,123,007 shares of the energy company’s stock valued at $31,527,000 after buying an additional 26,615 shares during the period. GMT Capital Corp lifted its holdings in shares of Covanta by 10.0% in the 3rd quarter. GMT Capital Corp now owns 1,828,000 shares of the energy company’s stock valued at $27,146,000 after buying an additional 166,900 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Covanta by 44.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,624,688 shares of the energy company’s stock worth $24,124,000 after purchasing an additional 498,296 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.
In related news, insider Paul E. Stauder sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $14.90, for a total value of $44,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.60% of the stock is owned by company insiders.
Covanta Holding Corp (NYSE:CVA) traded up $0.10 during trading on Wednesday, reaching $15.45. The company’s stock had a trading volume of 355,833 shares, compared to its average volume of 921,009. The firm has a market capitalization of $2,010.74, a PE ratio of 35.63, a PEG ratio of 15.16 and a beta of 0.71. Covanta Holding Corp has a one year low of $13.00 and a one year high of $17.30. The company has a debt-to-equity ratio of 5.83, a quick ratio of 1.11 and a current ratio of 1.11.
Covanta (NYSE:CVA) last issued its quarterly earnings data on Thursday, February 22nd. The energy company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.11). Covanta had a negative return on equity of 13.02% and a net margin of 3.25%. The firm had revenue of $495.00 million for the quarter, compared to analysts’ expectations of $462.71 million. During the same period in the previous year, the business posted $0.17 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. analysts anticipate that Covanta Holding Corp will post 0.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Thursday, March 29th will be given a $0.25 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 6.47%. Covanta’s payout ratio is currently 232.56%.
A number of equities analysts recently weighed in on the company. ValuEngine raised Covanta from a “sell” rating to a “hold” rating in a report on Tuesday. Oppenheimer reiterated a “buy” rating and set a $19.00 price objective on shares of Covanta in a research note on Tuesday, December 19th. Zacks Investment Research lowered 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 price target for the company in a research report on Sunday, January 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $18.00.
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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