Covanta Holding Corporation (CVA) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Covanta Holding Corporation (NYSE:CVA) from a market perform rating to an outperform rating in a research report report published on Monday, July 31st, Marketbeat reports. They currently have $17.00 target price on the energy company’s stock, up from their prior target price of $16.00.

Other analysts have also recently issued reports about the company. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. BidaskClub raised Covanta Holding Corporation from a sell rating to a hold rating in a research report on Wednesday, June 14th. Robert W. Baird raised Covanta Holding Corporation from a neutral rating to an outperform rating and set a $17.00 price objective for the company in a research report on Monday, May 15th. Barclays PLC raised Covanta Holding Corporation from an equal weight rating to an overweight rating and dropped their price target for the stock from $16.00 to $15.00 in a report on Wednesday, July 12th. Finally, Zacks Investment Research cut Covanta Holding Corporation from a hold rating to a strong sell rating in a report on Tuesday, June 27th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Covanta Holding Corporation presently has an average rating of Hold and a consensus target price of $17.28.

Covanta Holding Corporation (NYSE CVA) opened at 13.80 on Monday. Covanta Holding Corporation has a 12 month low of $13.00 and a 12 month high of $16.50. The company’s market capitalization is $1.79 billion. The firm has a 50-day moving average price of $13.83 and a 200 day moving average price of $14.70.

Covanta Holding Corporation (NYSE:CVA) last released its quarterly earnings data on Thursday, July 27th. The energy company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.04. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The business had revenue of $424 million during the quarter, compared to analyst estimates of $416.18 million. During the same period in the previous year, the business earned ($0.22) earnings per share. The business’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts expect that Covanta Holding Corporation will post ($0.23) EPS for the current year.

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In other Covanta Holding Corporation news, insider Paul E. Stauder sold 2,500 shares of the firm’s stock in a transaction 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 approximately $444,265.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 11.60% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. First Trust Advisors LP raised its position in shares of Covanta Holding Corporation by 1,516.1% in the first quarter. First Trust Advisors LP now owns 442,867 shares of the energy company’s stock valued at $6,953,000 after buying an additional 415,464 shares during the last quarter. OLD National Bancorp IN raised its position in shares of Covanta Holding Corporation by 46.1% in the first quarter. OLD National Bancorp IN now owns 30,668 shares of the energy company’s stock valued at $481,000 after buying an additional 9,677 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Covanta Holding Corporation by 17.3% in the first quarter. Wells Fargo & Company MN now owns 566,739 shares of the energy company’s stock valued at $8,898,000 after buying an additional 83,547 shares during the last quarter. Miller Howard Investments Inc. NY raised its position in shares of Covanta Holding Corporation by 3.9% in the first quarter. Miller Howard Investments Inc. NY now owns 1,416,139 shares of the energy company’s stock valued at $22,233,000 after buying an additional 52,961 shares during the last quarter. Finally, Sit Investment Associates Inc. raised its position in shares of Covanta Holding Corporation by 270.2% in the first quarter. Sit Investment Associates Inc. now owns 17,400 shares of the energy company’s stock valued at $273,000 after buying an additional 12,700 shares during the last quarter. Institutional investors own 90.91% of the company’s stock.

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.

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