Russell Investments Group Ltd. boosted its position in Covanta Holding Corporation (NYSE:CVA) by 7.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,126,392 shares of the energy company’s stock after buying an additional 73,799 shares during the period. Russell Investments Group Ltd.’s holdings in Covanta Holding Corporation were worth $14,868,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Covanta Holding Corporation by 4.4% in the first quarter. Vanguard Group Inc. now owns 9,452,767 shares of the energy company’s stock worth $148,408,000 after buying an additional 395,551 shares in the last quarter. BlackRock Inc. raised its position in Covanta Holding Corporation by 17,486.2% in the first quarter. BlackRock Inc. now owns 5,904,931 shares of the energy company’s stock worth $92,706,000 after buying an additional 5,871,354 shares in the last quarter. RidgeWorth Capital Management LLC raised its position in Covanta Holding Corporation by 42.9% in the first quarter. RidgeWorth Capital Management LLC now owns 4,087,721 shares of the energy company’s stock worth $65,195,000 after buying an additional 1,226,577 shares in the last quarter. Bank of New York Mellon Corp raised its position in Covanta Holding Corporation by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,170,053 shares of the energy company’s stock worth $34,069,000 after buying an additional 75,707 shares in the last quarter. Finally, Snyder Capital Management L P raised its position in Covanta Holding Corporation by 4.4% in the first quarter. Snyder Capital Management L P now owns 2,155,550 shares of the energy company’s stock worth $33,842,000 after buying an additional 90,307 shares in the last quarter. 90.04% of the stock is owned by hedge funds and other institutional investors.

Covanta Holding Corporation (NYSE CVA) traded down 2.47% on Friday, hitting $13.80. 554,658 shares of the stock traded hands. The firm’s 50 day moving average is $13.79 and its 200 day moving average is $14.78. The stock’s market cap is $1.79 billion. Covanta Holding Corporation has a 52 week low of $13.00 and a 52 week high of $16.50.

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

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A number of research analysts have weighed in on CVA shares. BidaskClub raised shares of Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Robert W. Baird raised shares of Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 target price for the company in a research report on Monday, May 15th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Finally, Barclays PLC raised shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $16.00 to $15.00 in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $17.28.

In related news, insider Paul E. Stauder sold 2,500 shares of Covanta Holding Corporation stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $14.50, for a total transaction of $36,250.00. Following the sale, the insider now directly owns 30,639 shares in the company, valued at approximately $444,265.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 11.60% of the stock is owned by company insiders.

About Covanta Holding Corporation

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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