Covanta Holding Corp (NYSE:CVA) Director Ronald J. Broglio sold 6,500 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $17.72, for a total value of $115,180.00. Following the completion of the transaction, the director now directly owns 6,487 shares of the company’s stock, valued at approximately $114,949.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Covanta stock opened at $17.68 on Wednesday. Covanta Holding Corp has a 12 month low of $12.92 and a 12 month high of $18.25. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -176.80, a PEG ratio of 5.65 and a beta of 1.36. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 5.56.
Covanta (NYSE:CVA) last announced its earnings results on Thursday, April 25th. The energy company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.21. Covanta had a positive return on equity of 0.79% and a negative net margin of 2.36%. The business had revenue of $453.00 million during the quarter, compared to analysts’ expectations of $453.72 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Covanta Holding Corp will post 0.21 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of Covanta in the fourth quarter valued at approximately $336,000. Oppenheimer & Co. Inc. increased its holdings in shares of Covanta by 4.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 37,503 shares of the energy company’s stock valued at $503,000 after purchasing an additional 1,601 shares during the last quarter. Morgan Stanley increased its holdings in shares of Covanta by 28.4% in the third quarter. Morgan Stanley now owns 939,557 shares of the energy company’s stock valued at $15,268,000 after purchasing an additional 208,020 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Covanta by 445.7% in the fourth quarter. Squarepoint Ops LLC now owns 379,832 shares of the energy company’s stock valued at $5,097,000 after purchasing an additional 310,232 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Covanta in the fourth quarter valued at approximately $55,000. 80.28% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on CVA shares. TheStreet raised Covanta from a “c” rating to a “b-” rating in a report on Thursday, February 14th. Goldman Sachs Group raised Covanta from a “neutral” rating to a “buy” rating and increased their target price for the company from $16.50 to $19.00 in a report on Monday, February 4th. Zacks Investment Research cut Covanta from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. UBS Group increased their target price on Covanta from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, BMO Capital Markets increased their target price on Covanta from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Covanta presently has an average rating of “Buy” and a consensus target price of $17.50.
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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.
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