Covanta Holding Corp. (NYSE:CVA) shares traded down 2.8% on Thursday . The stock traded as low as $15.31 and last traded at $15.34, with a volume of 640,837 shares traded. The stock had previously closed at $15.78.

Several research analysts have recently weighed in on the stock. Imperial Capital reissued an “outperform” rating and issued a $18.50 target price (up from $17.00) on shares of Covanta Holding Corp. in a research report on Thursday, April 28th. Zacks Investment Research raised shares of Covanta Holding Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Robert W. Baird downgraded shares of Covanta Holding Corp. from an “outperform” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research report on Friday, April 29th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $18.09.

The stock’s 50 day moving average price is $16.44 and its 200-day moving average price is $15.85. The firm has a market capitalization of $1.95 billion and a PE ratio of 43.91.

Covanta Holding Corp. (NYSE:CVA) last released its earnings results on Tuesday, July 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.17. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business had revenue of $418 million for the quarter, compared to the consensus estimate of $410.38 million. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts predict that Covanta Holding Corp. will post ($0.09) EPS for the current fiscal year.

In related news, Director Ronald J. Broglio sold 4,500 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $15.78, for a total value of $71,010.00. Following the sale, the director now directly owns 4,529 shares in the company, valued at approximately $71,467.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Other hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in Covanta Holding Corp. by 64.3% in the fourth quarter. Advisors Asset Management Inc. now owns 836,217 shares of the company’s stock worth $12,953,000 after buying an additional 327,180 shares during the last quarter. Bank of Montreal Can boosted its stake in Covanta Holding Corp. by 2.0% in the fourth quarter. Bank of Montreal Can now owns 711,242 shares of the company’s stock worth $11,017,000 after buying an additional 14,024 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Covanta Holding Corp. by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,115,000 shares of the company’s stock worth $125,701,000 after buying an additional 216,763 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Covanta Holding Corp. by 20.2% in the fourth quarter. Suntrust Banks Inc. now owns 220,188 shares of the company’s stock worth $3,410,000 after buying an additional 37,044 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Covanta Holding Corp. by 71.7% in the fourth quarter. GSA Capital Partners LLP now owns 68,679 shares of the company’s stock worth $1,064,000 after buying an additional 28,673 shares during the last quarter.

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. It 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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