Covanta Holding Corp (CVA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Covanta Holding Corp (NYSE:CVA) by 0.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,015,792 shares of the energy company’s stock after selling 10,057 shares during the quarter. Bank of New York Mellon Corp owned about 1.54% of Covanta worth $33,260,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Bank of Montreal Can grew its position in Covanta by 5.0% in the second quarter. Bank of Montreal Can now owns 940,528 shares of the energy company’s stock worth $15,518,000 after acquiring an additional 44,380 shares in the last quarter. Coastline Trust Co purchased a new position in Covanta in the second quarter worth $1,036,000. Raymond James Financial Services Advisors Inc. grew its position in Covanta by 3.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 681,256 shares of the energy company’s stock worth $11,241,000 after acquiring an additional 22,260 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Covanta by 10.0% in the second quarter. Commonwealth Equity Services LLC now owns 53,159 shares of the energy company’s stock worth $877,000 after acquiring an additional 4,821 shares in the last quarter. Finally, Capital Management Associates NY grew its position in Covanta by 59.6% in the second quarter. Capital Management Associates NY now owns 44,700 shares of the energy company’s stock worth $738,000 after acquiring an additional 16,700 shares in the last quarter. Institutional investors and hedge funds own 81.51% of the company’s stock.

Several brokerages recently issued reports on CVA. ValuEngine upgraded shares of Covanta from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Credit Suisse Group upped their price target on shares of Covanta from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Finally, Raymond James upped their price target on shares of Covanta from $17.50 to $19.00 and gave the company a “strong-buy” rating in a research report on Monday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Covanta presently has a consensus rating of “Buy” and a consensus target price of $17.33.

NYSE CVA opened at $15.78 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 4.87. Covanta Holding Corp has a 12-month low of $14.15 and a 12-month high of $18.05. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -42.65 and a beta of 0.99.

Covanta (NYSE:CVA) last posted 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 net margin of 14.71% and a negative return on equity of 1.30%. The business had revenue of $456.00 million for the quarter, compared to analysts’ expectations of $449.75 million. Sell-side analysts predict that Covanta Holding Corp will post -0.01 earnings per share for the current fiscal year.

In other Covanta news, insider Paul E. Stauder sold 2,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $17.53, for a total transaction of $35,060.00. Following the completion of the sale, the insider now directly owns 42,025 shares in the company, valued at $736,698.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 11.60% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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