Covanta Holding Corp (CVA) Position Lifted by Cullen Frost Bankers Inc.

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Cullen Frost Bankers Inc. boosted its holdings in Covanta Holding Corp (NYSE:CVA) by 22.6% during the fourth quarter, Holdings Channel reports. The fund owned 35,051 shares of the energy company’s stock after buying an additional 6,456 shares during the period. Cullen Frost Bankers Inc.’s holdings in Covanta were worth $470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Fort Washington Investment Advisors Inc. OH increased its holdings in Covanta by 44.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 15,275 shares of the energy company’s stock valued at $205,000 after buying an additional 4,700 shares during the last quarter. Alps Advisors Inc. increased its holdings in Covanta by 39.1% in the fourth quarter. Alps Advisors Inc. now owns 54,810 shares of the energy company’s stock valued at $736,000 after buying an additional 15,398 shares during the last quarter. Securian Asset Management Inc increased its holdings in Covanta by 45.5% in the fourth quarter. Securian Asset Management Inc now owns 64,600 shares of the energy company’s stock valued at $867,000 after buying an additional 20,200 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Covanta by 604.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 71,727 shares of the energy company’s stock valued at $963,000 after buying an additional 61,540 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new position in Covanta in the fourth quarter valued at $230,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

In other news, EVP Matthew Mulcahy sold 13,000 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $16.53, for a total transaction of $214,890.00. Following the completion of the sale, the executive vice president now owns 88,094 shares in the company, valued at $1,456,193.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Castro Michael Joseph De bought 10,000 shares of the firm’s stock in a transaction dated Friday, December 28th. The shares were acquired at an average price of $13.36 per share, with a total value of $133,600.00. The disclosure for this purchase can be found here. Corporate insiders own 10.90% of the company’s stock.

Several equities analysts recently commented on CVA shares. Goldman Sachs Group raised Covanta from a “neutral” rating to a “buy” rating and increased their target price for the company from $16.50 to $19.00 in a report on Monday, February 4th. Zacks Investment Research lowered Covanta from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Barclays started coverage on Covanta in a report on Monday, January 7th. They issued an “equal weight” rating and a $16.00 target price on the stock. ValuEngine lowered Covanta from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, BMO Capital Markets reissued a “buy” rating and issued a $18.00 target price on shares of Covanta in a report on Tuesday, January 8th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $17.00.

NYSE CVA opened at $16.51 on Monday. The company has a debt-to-equity ratio of 4.87, a current ratio of 1.20 and a quick ratio of 1.20. Covanta Holding Corp has a 1 year low of $12.92 and a 1 year high of $18.05. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -44.62, a P/E/G ratio of 19.97 and a beta of 1.32.

Covanta (NYSE:CVA) last released its quarterly earnings data on Thursday, February 14th. The energy company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). Covanta had a net margin of 14.71% and a negative return on equity of 1.30%. The company had revenue of $500.00 million during the quarter, compared to analyst estimates of $485.25 million. During the same quarter in the prior year, the company earned $0.09 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Covanta Holding Corp will post -0.05 EPS for the current fiscal year.

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Covanta Company 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.

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Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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