SG Americas Securities LLC Has $893,000 Holdings in Covanta Holding Corp (NYSE:CVA)

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SG Americas Securities LLC boosted its holdings in Covanta Holding Corp (NYSE:CVA) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,121 shares of the energy company’s stock after buying an additional 6,270 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of Covanta worth $893,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC boosted its stake in Covanta by 10.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,188,891 shares of the energy company’s stock valued at $11,401,000 after buying an additional 116,621 shares in the last quarter. Moody National Bank Trust Division boosted its stake in Covanta by 225.0% in the second quarter. Moody National Bank Trust Division now owns 106,200 shares of the energy company’s stock valued at $1,018,000 after buying an additional 73,525 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Covanta by 68.2% in the first quarter. Clearbridge Investments LLC now owns 118,720 shares of the energy company’s stock valued at $1,015,000 after buying an additional 48,124 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Covanta in the first quarter valued at about $497,000. Finally, Caxton Associates LP bought a new position in Covanta in the first quarter valued at about $228,000. 72.33% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Ronald J. Broglio sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $9.78, for a total transaction of $58,680.00. Following the completion of the sale, the director now owns 13,567 shares of the company’s stock, valued at $132,685.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.10% of the company’s stock.

Several equities analysts have commented on CVA shares. BMO Capital Markets dropped their target price on Covanta to $7.00 and set a “market perform” rating for the company in a research report on Sunday, April 19th. UBS Group upgraded Covanta from a “neutral” rating to a “buy” rating and dropped their target price for the company from $14.00 to $13.00 in a research report on Wednesday, May 13th. Stifel Nicolaus upgraded Covanta from a “sell” rating to a “hold” rating and set a $9.50 target price for the company in a research report on Sunday, May 10th. Oppenheimer reiterated a “buy” rating and issued a $10.00 target price on shares of Covanta in a research report on Thursday. Finally, Zacks Investment Research downgraded Covanta from a “hold” rating to a “sell” rating and set a $10.00 target price for the company. in a research report on Thursday, June 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Covanta currently has an average rating of “Hold” and a consensus price target of $11.44.

Shares of CVA opened at $9.84 on Friday. Covanta Holding Corp has a 1 year low of $6.57 and a 1 year high of $17.97. The company has a debt-to-equity ratio of 8.35, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -65.60 and a beta of 1.24. The business has a 50-day moving average of $9.40 and a 200-day moving average of $10.64.

Covanta (NYSE:CVA) last issued its quarterly earnings data on Thursday, July 30th. The energy company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.09. Covanta had a negative return on equity of 5.40% and a negative net margin of 1.01%. The company had revenue of $454.00 million during the quarter, compared to the consensus estimate of $450.27 million. As a group, sell-side analysts anticipate that Covanta Holding Corp will post -0.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.32 annualized dividend and a yield of 3.25%. Covanta’s dividend payout ratio is currently 457.14%.

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.

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Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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