Community Bank & Trust Waco Texas lifted its position in Covanta Holding Corp (NYSE:CVA) by 48.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,303 shares of the energy company’s stock after purchasing an additional 9,300 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Covanta were worth $478,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CVA. Quantbot Technologies LP acquired a new position in shares of Covanta in the second quarter valued at $107,000. ProShare Advisors LLC acquired a new position in shares of Covanta in the second quarter valued at $147,000. Verition Fund Management LLC raised its stake in Covanta by 9.7% during the second quarter. Verition Fund Management LLC now owns 11,779 shares of the energy company’s stock worth $155,000 after acquiring an additional 1,039 shares in the last quarter. First Allied Advisory Services Inc. acquired a new position in Covanta during the third quarter worth $161,000. Finally, Prudential Financial Inc. acquired a new position in Covanta during the second quarter worth $164,000. Institutional investors and hedge funds own 94.77% of the company’s stock.
Shares of Covanta Holding Corp (NYSE:CVA) traded down $0.15 during mid-day trading on Wednesday, hitting $16.80. The stock had a trading volume of 695,200 shares, compared to its average volume of 727,760. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 8.39. The company has a market capitalization of $2,190.00, a PE ratio of -32.94, a PEG ratio of 16.74 and a beta of 0.76. Covanta Holding Corp has a 12 month low of $13.00 and a 12 month high of $17.30.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 29th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend was Thursday, December 28th. Covanta’s payout ratio is presently -196.08%.
CVA has been the subject of several recent analyst reports. Zacks Investment Research lowered Covanta from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. BMO Capital Markets increased their price objective on Covanta from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, October 30th. Oppenheimer reiterated a “buy” rating and set a $19.00 price objective on shares of Covanta in a research note on Tuesday, December 19th. Robert W. Baird reiterated a “buy” rating and set a $17.00 price objective on shares of Covanta in a research note on Friday, October 6th. Finally, Goldman Sachs Group upgraded Covanta from a “sell” rating to a “neutral” rating and set a $16.00 price objective for the company in a research note on Sunday, January 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.00.
In other news, Director John Vincent Hickey sold 90,000 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $0.29, for a total transaction of $26,100.00. 11.60% of the stock is currently owned by corporate insiders.
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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.
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