State of New Jersey Common Pension Fund D cut its position in Covanta Holding Corporation (NYSE:CVA) by 28.6% during the second quarter, Holdings Channel reports. The institutional investor owned 500,000 shares of the energy company’s stock after selling 200,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Covanta Holding Corporation were worth $6,600,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teachers Advisors LLC boosted its position in Covanta Holding Corporation by 46.6% in the fourth quarter. Teachers Advisors LLC now owns 156,632 shares of the energy company’s stock worth $2,443,000 after buying an additional 49,777 shares in the last quarter. Raymond James Trust N.A. boosted its position in Covanta Holding Corporation by 39.5% in the first quarter. Raymond James Trust N.A. now owns 22,310 shares of the energy company’s stock worth $351,000 after buying an additional 6,312 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Covanta Holding Corporation by 49.7% in the first quarter. Nisa Investment Advisors LLC now owns 29,500 shares of the energy company’s stock worth $463,000 after buying an additional 9,800 shares in the last quarter. Huntington National Bank boosted its position in Covanta Holding Corporation by 3.2% in the first quarter. Huntington National Bank now owns 16,442 shares of the energy company’s stock worth $258,000 after buying an additional 515 shares in the last quarter. Finally, Rothschild Investment Corp IL boosted its position in Covanta Holding Corporation by 15.0% in the first quarter. Rothschild Investment Corp IL now owns 100,950 shares of the energy company’s stock worth $1,585,000 after buying an additional 13,200 shares in the last quarter. 90.04% of the stock is currently owned by institutional investors.

Shares of Covanta Holding Corporation (NYSE CVA) opened at 13.85 on Friday. Covanta Holding Corporation has a one year low of $13.00 and a one year high of $16.50. The stock’s 50 day moving average price is $13.79 and its 200 day moving average price is $14.77. The stock’s market capitalization is $1.80 billion.

Covanta Holding Corporation (NYSE:CVA) last released its earnings results on Thursday, July 27th. The energy company reported ($0.22) earnings per share for the quarter, missing the 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 net margin of 1.41% and a negative return on equity of 9.81%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.22) EPS. Equities research analysts predict that Covanta Holding Corporation will post ($0.23) EPS for the current fiscal year.

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A number of research analysts recently commented on CVA shares. Robert W. Baird raised Covanta Holding Corporation from a “neutral” rating to an “outperform” rating and set a $17.00 price target on the stock in a report on Monday, May 15th. BidaskClub raised Covanta Holding Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research cut Covanta Holding Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 27th. BMO Capital Markets began coverage on Covanta Holding Corporation in a report on Thursday, June 29th. They set a “market perform” rating and a $16.00 price objective on the stock. Finally, Barclays PLC raised Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $16.00 to $15.00 in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Covanta Holding Corporation currently has a consensus rating of “Hold” and an average target price 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 stock was sold at an average price of $14.50, for a total transaction of $36,250.00. Following the transaction, the insider now owns 30,639 shares in the company, valued at $444,265.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.60% of the company’s stock.

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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