Two Sigma Investments LP Has $994,000 Holdings in Covanta Holding Corp (CVA)

Two Sigma Investments LP boosted its holdings in shares of Covanta Holding Corp (NYSE:CVA) by 481.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,793 shares of the energy company’s stock after purchasing an additional 48,688 shares during the period. Two Sigma Investments LP’s holdings in Covanta were worth $994,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. bought a new position in Covanta during the fourth quarter worth about $178,000. First Allied Advisory Services Inc. bought a new position in Covanta during the third quarter worth about $161,000. Cutler Group LP lifted its stake in Covanta by 81.3% during the fourth quarter. Cutler Group LP now owns 12,490 shares of the energy company’s stock worth $211,000 after purchasing an additional 5,601 shares during the period. Jefferies Group LLC bought a new position in Covanta during the fourth quarter worth about $250,000. Finally, Quadrature Capital Ltd bought a new position in Covanta during the fourth quarter worth about $252,000. Hedge funds and other institutional investors own 91.70% of the company’s stock.

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NYSE:CVA opened at $14.30 on Monday. Covanta Holding Corp has a 1 year low of $13.00 and a 1 year high of $17.30. The company has a debt-to-equity ratio of 5.83, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $1,873.19, a PE ratio of -38.65, a PEG ratio of 17.33 and a beta of 0.69.

Covanta (NYSE:CVA) last posted its earnings results on Thursday, February 22nd. The energy company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.11). Covanta had a net margin of 3.25% and a negative return on equity of 13.02%. The firm had revenue of $495.00 million during the quarter, compared to the consensus estimate of $462.71 million. During the same quarter last year, the firm posted $0.17 EPS. The business’s revenue was up 8.3% on a year-over-year basis. sell-side analysts anticipate that Covanta Holding Corp will post 0.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Investors of record on Thursday, March 29th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.99%. The ex-dividend date of this dividend was Wednesday, March 28th. Covanta’s dividend payout ratio (DPR) is presently -270.27%.

In related news, insider Paul E. Stauder sold 3,000 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.90% of the company’s stock.

A number of research analysts have recently issued reports on CVA shares. Oppenheimer reiterated a “buy” rating and issued a $19.00 target price on shares of Covanta in a research note on Tuesday, December 19th. ValuEngine upgraded shares of Covanta from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Zacks Investment Research upgraded shares of Covanta from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Goldman Sachs upgraded shares of Covanta from a “sell” rating to a “neutral” rating and set a $16.00 target price for the company in a research note on Sunday, January 7th. Finally, UBS started coverage on shares of Covanta in a research note on Wednesday, March 14th. They issued a “neutral” rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.25.

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Covanta Profile

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.

Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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