Equities research analysts at UBS Group initiated coverage on shares of Covanta (NYSE:CVA) in a note issued to investors on Wednesday, The Fly reports. The firm set a “neutral” rating on the energy company’s stock.
Other research analysts also recently issued research reports about the stock. Goldman Sachs Group upgraded shares of Covanta from a “sell” rating to a “neutral” rating and set a $16.00 target price on the stock in a research note on Sunday, January 7th. Zacks Investment Research downgraded shares of Covanta from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Oppenheimer reiterated a “buy” rating and issued a $19.00 target price on shares of Covanta in a research note on Tuesday, December 19th. Finally, ValuEngine downgraded shares of Covanta from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.00.
Shares of Covanta (NYSE:CVA) remained flat at $$15.35 on Wednesday. The stock had a trading volume of 548,875 shares, compared to its average volume of 923,061. The firm has a market cap of $2,010.74, a PE ratio of 35.70, a PEG ratio of 15.16 and a beta of 0.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 5.83. Covanta has a fifty-two week low of $13.00 and a fifty-two week high of $17.30.
In other news, insider Paul E. Stauder sold 3,000 shares of the company’s stock in a transaction that occurred on 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 SEC, which is accessible through this link. Corporate insiders own 11.60% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. First Allied Advisory Services Inc. bought a new position in Covanta during the third quarter valued at approximately $161,000. Fox Run Management L.L.C. bought a new position in Covanta during the fourth quarter valued at approximately $178,000. Verition Fund Management LLC bought a new position in Covanta during the fourth quarter valued at approximately $207,000. Cutler Group LP lifted its position in Covanta by 81.3% during the fourth quarter. Cutler Group LP now owns 12,490 shares of the energy company’s stock valued at $211,000 after purchasing an additional 5,601 shares during the period. Finally, Xact Kapitalforvaltning AB bought a new position in Covanta during the fourth quarter valued at approximately $214,000. Institutional investors own 91.51% of the company’s stock.
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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