Nisa Investment Advisors LLC increased its stake in Covanta Holding Corporation (NYSE:CVA) by 29.2% during the second quarter, Holdings Channel reports. The firm owned 38,110 shares of the energy company’s stock after buying an additional 8,610 shares during the period. Nisa Investment Advisors LLC’s holdings in Covanta Holding Corporation were worth $550,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of Covanta Holding Corporation by 15.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,380 shares of the energy company’s stock valued at $178,000 after buying an additional 1,500 shares during the period. Clearbridge Investments LLC increased its stake in Covanta Holding Corporation by 26.7% in the first quarter. Clearbridge Investments LLC now owns 11,989 shares of the energy company’s stock valued at $188,000 after buying an additional 2,528 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Covanta Holding Corporation during the first quarter valued at about $197,000. FMR LLC acquired a new stake in Covanta Holding Corporation during the first quarter valued at about $229,000. Finally, Tiedemann Wealth Management LLC acquired a new stake in Covanta Holding Corporation during the first quarter valued at about $239,000. 90.04% of the stock is owned by institutional investors.

Covanta Holding Corporation (NYSE:CVA) traded down 0.868% during mid-day trading on Thursday, reaching $14.275. 407,643 shares of the company traded hands. Covanta Holding Corporation has a 12-month low of $13.00 and a 12-month high of $16.50. The stock’s market capitalization is $1.86 billion. The company’s 50-day moving average is $13.78 and its 200-day moving average is $14.79.

Covanta Holding Corporation (NYSE:CVA) last issued its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The firm had revenue of $424 million during the quarter, compared to analysts’ expectations of $416.18 million. Covanta Holding Corporation had a negative return on equity of 9.81% and a negative net margin of 1.41%. Covanta Holding Corporation’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.22) earnings per share. Equities analysts predict that Covanta Holding Corporation will post ($0.23) earnings per share for the current fiscal year.

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Several analysts recently issued reports on the stock. BidaskClub raised shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus raised shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $15.50 to $17.00 in a research report on Monday, July 31st. BMO Capital Markets raised shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $17.00 in a research report on Monday, July 31st. Robert W. Baird raised shares of Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price target for the company in a research report on Monday, May 15th. Finally, Zacks Investment Research downgraded shares of Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Covanta Holding Corporation presently has an average rating of “Hold” and a consensus target price of $17.28.

In other news, insider Paul E. Stauder sold 2,500 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $14.50, for a total value of $36,250.00. Following the sale, the insider now directly owns 30,639 shares of the company’s stock, valued at $444,265.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 11.60% of the company’s stock.

Covanta Holding Corporation 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. The Company 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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Institutional Ownership by Quarter for Covanta Holding Corporation (NYSE:CVA)

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