Covanta Holding Corp. (NYSE:CVA) declared a quarterly dividend on Thursday, September 22nd. Shareholders of record on Monday, October 3rd will be given a dividend of 0.25 per share on Friday, October 7th. This represents a $1.00 annualized dividend and a yield of 6.57%. The ex-dividend date is Thursday, September 29th.
Covanta Holding Corp. (NYSE:CVA) opened at 15.23 on Wednesday. The stock has a market cap of $1.96 billion, a PE ratio of 44.14 and a beta of 0.61. Covanta Holding Corp. has a 1-year low of $12.48 and a 1-year high of $18.36. The firm’s 50-day moving average price is $14.93 and its 200 day moving average price is $16.12.
Covanta Holding Corp. (NYSE:CVA) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.17. The business earned $418 million during the quarter, compared to analyst estimates of $410.38 million. Covanta Holding Corp. had a negative return on equity of 3.48% and a net margin of 2.69%. Covanta Holding Corp.’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. Equities research analysts expect that Covanta Holding Corp. will post ($0.11) EPS for the current year.
In other Covanta Holding Corp. news, Director Ronald J. Broglio sold 4,500 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $15.78, for a total value of $71,010.00. Following the transaction, the director now owns 4,529 shares of the company’s stock, valued at $71,467.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.80% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CVA. Sei Investments Co. raised its position in Covanta Holding Corp. by 56.8% in the second quarter. Sei Investments Co. now owns 8,617 shares of the company’s stock valued at $142,000 after buying an additional 3,120 shares during the last quarter. JPMorgan Chase & Co. raised its position in Covanta Holding Corp. by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 8,806 shares of the company’s stock valued at $145,000 after buying an additional 1,054 shares during the last quarter. Sawtooth Asset Management Inc. bought a new position in Covanta Holding Corp. during the second quarter valued at $199,000. Trexquant Investment LP bought a new position in Covanta Holding Corp. during the second quarter valued at $209,000. Finally, Fifth Third Bancorp raised its position in Covanta Holding Corp. by 11.7% in the second quarter. Fifth Third Bancorp now owns 17,795 shares of the company’s stock valued at $293,000 after buying an additional 1,860 shares during the last quarter. 80.15% of the stock is currently owned by hedge funds and other institutional investors.
CVA has been the topic of several research reports. Barclays PLC cut their price target on Covanta Holding Corp. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 9th. Zacks Investment Research raised Covanta Holding Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Imperial Capital cut their price target on Covanta Holding Corp. from $18.50 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Macquarie initiated coverage on Covanta Holding Corp. in a research note on Thursday, August 25th. They set a “neutral” rating and a $18.00 price target on the stock. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $20.00 price target on shares of Covanta Holding Corp. in a research note on Friday, September 23rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Covanta Holding Corp. currently has an average rating of “Buy” and a consensus target price of $18.00.
Covanta Holding Corp. Company 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. It 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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