Alliancebernstein L.P. grew its holdings in Covanta Holding Corporation (NYSE:CVA) by 193.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,970 shares of the energy company’s stock after purchasing an additional 114,638 shares during the period. Alliancebernstein L.P. owned about 0.13% of Covanta Holding Corporation worth $2,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in Covanta Holding Corporation by 42.1% in the second quarter. IFP Advisors Inc now owns 8,927 shares of the energy company’s stock worth $118,000 after purchasing an additional 2,647 shares during the period. Connable Office Inc. purchased a new stake in Covanta Holding Corporation in the second quarter worth $133,000. PNC Financial Services Group Inc. increased its stake in 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 worth $178,000 after purchasing 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 worth $188,000 after purchasing an additional 2,528 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in Covanta Holding Corporation in the second quarter worth $164,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

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A number of analysts have weighed in on CVA shares. Stifel Nicolaus reiterated a “buy” rating and issued a $17.00 target price on shares of Covanta Holding Corporation in a research note on Tuesday, September 5th. Robert W. Baird reiterated a “buy” rating and issued a $17.00 target price on shares of Covanta Holding Corporation in a research note on Friday, September 1st. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Covanta Holding Corporation in a research note on Monday, July 17th. Zacks Investment Research upgraded Covanta Holding Corporation from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Monday, October 9th. Finally, BidaskClub upgraded Covanta Holding Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $17.06.

Covanta Holding Corporation (NYSE:CVA) opened at 15.05 on Friday. The company’s market cap is $1.96 billion. The stock’s 50 day moving average price is $14.67 and its 200-day moving average price is $14.39. 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 posted its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.04). The firm had revenue of $424.00 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%. Covanta Holding Corporation’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.22) EPS. On average, equities analysts predict that Covanta Holding Corporation will post ($0.22) earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Thursday, September 28th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 6.64%. Covanta Holding Corporation’s dividend payout ratio is presently -526.29%.

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.

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

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