Shares of Covanta Holding Corp (NYSE:CVA) have been assigned a consensus rating of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $17.86.

Several equities research analysts have issued reports on the company. ValuEngine downgraded Covanta from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James increased their price target on Covanta from $17.50 to $19.00 and gave the stock a “strong-buy” rating in a report on Monday, July 30th. Credit Suisse Group increased their price objective on Covanta from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, July 30th. BMO Capital Markets reiterated a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Covanta in a report on Friday, July 27th. Finally, Zacks Investment Research downgraded Covanta from a “hold” rating to a “sell” rating in a report on Thursday, July 26th.

Shares of Covanta stock opened at $14.36 on Monday. Covanta has a 1 year low of $14.15 and a 1 year high of $18.05. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -38.81, a price-to-earnings-growth ratio of 16.89 and a beta of 0.77. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 4.26.

Covanta (NYSE:CVA) last announced its quarterly earnings results on Thursday, October 25th. The energy company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.11). Covanta had a negative return on equity of 1.28% and a net margin of 14.71%. The business had revenue of $456.00 million during the quarter, compared to the consensus estimate of $449.75 million. On average, research analysts predict that Covanta will post 0.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.96%. Covanta’s payout ratio is presently -270.27%.

In related news, insider Paul E. Stauder sold 2,000 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $17.53, for a total transaction of $35,060.00. Following the completion of the transaction, the insider now directly owns 42,025 shares in the company, valued at $736,698.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 11.60% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of CVA. Schroder Investment Management Group grew its holdings in shares of Covanta by 776.1% during the second quarter. Schroder Investment Management Group now owns 6,354,739 shares of the energy company’s stock worth $91,890,000 after buying an additional 5,629,420 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Covanta by 7.0% during the second quarter. BlackRock Inc. now owns 9,926,475 shares of the energy company’s stock worth $163,786,000 after buying an additional 651,772 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Covanta during the second quarter worth about $8,720,000. Daiwa SB Investments Ltd. grew its holdings in shares of Covanta by 47.8% during the third quarter. Daiwa SB Investments Ltd. now owns 479,091 shares of the energy company’s stock worth $7,785,000 after buying an additional 155,019 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Covanta by 32.6% during the third quarter. First Trust Advisors LP now owns 539,239 shares of the energy company’s stock worth $8,763,000 after buying an additional 132,621 shares in the last quarter. Institutional investors and hedge funds own 83.94% of the company’s stock.

Covanta Company Profile

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses.

Further Reading: Bear Market

Analyst Recommendations for Covanta (NYSE:CVA)

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