Teacher Retirement System of Texas lowered its position in shares of Covanta Holding Corp. (NYSE:CVA) by 16.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 710,757 shares of the company’s stock after selling 140,289 shares during the period. Teacher Retirement System of Texas’ holdings in Covanta Holding Corp. were worth $10,939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its position in shares of Covanta Holding Corp. by 3.8% in the first quarter. State Street Corp now owns 1,601,265 shares of the company’s stock worth $26,994,000 after buying an additional 58,772 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Covanta Holding Corp. by 4.3% in the first quarter. Geode Capital Management LLC now owns 805,209 shares of the company’s stock worth $13,575,000 after buying an additional 33,497 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Covanta Holding Corp. by 13.5% in the first quarter. Envestnet Asset Management Inc. now owns 44,484 shares of the company’s stock worth $750,000 after buying an additional 5,289 shares during the period. Barclays PLC increased its position in shares of Covanta Holding Corp. by 88.6% in the first quarter. Barclays PLC now owns 32,605 shares of the company’s stock worth $522,000 after buying an additional 15,319 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Covanta Holding Corp. by 53.3% in the second quarter. BNP Paribas Arbitrage SA now owns 14,431 shares of the company’s stock worth $237,000 after buying an additional 5,020 shares during the period. Institutional investors and hedge funds own 80.01% of the company’s stock.

Institutional Ownership by Quarter for Covanta Holding Corp. (NYSE:CVA)

Covanta Holding Corp. (NYSE:CVA) traded up 0.172% during trading on Wednesday, hitting $14.575. The company had a trading volume of 1,062,007 shares. The stock has a market capitalization of $1.88 billion, a PE ratio of 29.092 and a beta of 0.76. Covanta Holding Corp. has a one year low of $12.48 and a one year high of $17.75. The stock has a 50-day moving average of $14.71 and a 200-day moving average of $15.55.

Covanta Holding Corp. (NYSE:CVA) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. The business had revenue of $421 million for the quarter, compared to the consensus estimate of $421.72 million. Covanta Holding Corp. had a negative return on equity of 4.97% and a net margin of 3.88%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. On average, equities analysts anticipate that Covanta Holding Corp. will post ($0.10) EPS for the current year.

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A number of research analysts have commented on the company. Zacks Investment Research upgraded Covanta Holding Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $20.00 target price on shares of Covanta Holding Corp. in a research note on Friday, September 23rd. Barclays PLC lowered their target price on Covanta Holding Corp. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 9th. Finally, Macquarie assumed coverage on Covanta Holding Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating and a $18.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $17.82.

In other news, Director Robert S. Silberman bought 2,000 shares of the stock in a transaction on Monday, November 14th. The stock was purchased at an average price of $14.73 per share, for a total transaction of $29,460.00. Following the acquisition, the director now owns 66,500 shares in the company, valued at $979,545. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.80% of the company’s stock.

Covanta Holding Corp. Company Profile

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.

5 Day Chart for NYSE:CVA

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