Mckinley Capital Management LLC Delaware reduced its position in Covanta Holding Corp (NYSE:CVA) by 25.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,296 shares of the energy company’s stock after selling 17,175 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Covanta were worth $918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of CVA. HCR Wealth Advisors bought a new position in shares of Covanta during the first quarter worth $411,000. Strs Ohio bought a new position in shares of Covanta during the second quarter worth $48,000. Advisory Services Network LLC boosted its position in shares of Covanta by 80.2% during the second quarter. Advisory Services Network LLC now owns 2,795 shares of the energy company’s stock worth $50,000 after acquiring an additional 1,244 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in shares of Covanta during the second quarter worth $57,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Covanta by 42.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,429 shares of the energy company’s stock worth $169,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 78.45% of the company’s stock.
In other Covanta news, EVP Castro Michael Joseph De sold 10,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $17.08, for a total transaction of $170,800.00. Following the completion of the transaction, the executive vice president now owns 90,203 shares in the company, valued at $1,540,667.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul E. Stauder sold 2,996 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $17.25, for a total transaction of $51,681.00. Following the transaction, the insider now owns 51,599 shares of the company’s stock, valued at approximately $890,082.75. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.
CVA stock traded down $0.32 during trading on Friday, hitting $16.42. 537,105 shares of the company’s stock traded hands, compared to its average volume of 745,281. Covanta Holding Corp has a 52 week low of $12.92 and a 52 week high of $18.38. The company has a debt-to-equity ratio of 6.19, a quick ratio of 1.30 and a current ratio of 1.30. The business has a fifty day simple moving average of $17.18 and a 200 day simple moving average of $17.34. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -164.20, a P/E/G ratio of 20.92 and a beta of 1.31.
Covanta (NYSE:CVA) last released its quarterly earnings data on Thursday, July 25th. The energy company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.07). Covanta had a negative net margin of 1.81% and a negative return on equity of 3.22%. The business had revenue of $467.00 million for the quarter, compared to the consensus estimate of $467.05 million. During the same quarter last year, the business earned ($0.01) EPS. Covanta’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts forecast that Covanta Holding Corp will post 0.05 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. Macquarie assumed coverage on shares of Covanta in a research report on Monday, April 29th. They set an “outperform” rating for the company. Zacks Investment Research upgraded shares of Covanta from a “strong sell” rating to a “hold” rating and set a $14.00 target price for the company in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Covanta currently has an average rating of “Buy” and an average price target of $17.00.
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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