Today, Neuberger Berman Group LLC lowers its Position in Covanta Holding Corp. (CVA)

Today, Neuberger Berman Group LLC lowers its Position in Covanta Holding Corp. (CVA)

Neuberger Berman Group LLC decreased its stake in shares of Covanta Holding Corp. (NYSE:CVA) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,479,215 shares of the company’s stock after selling 43,485 shares during the period. Neuberger Berman Group LLC owned 4.25% of Covanta Holding Corp. worth $84,325,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Covanta Holding Corp. by 54.5% in the second quarter. IFP Advisors Inc now owns 6,521 shares of the company’s stock valued at $107,000 after buying an additional 2,301 shares in the last quarter. Sei Investments Co. raised its position in Covanta Holding Corp. by 56.8% in the second quarter. Sei Investments Co. now owns 8,617 shares of the company’s stock valued at $142,000 after buying an additional 3,120 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Covanta Holding Corp. by 2.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,763 shares of the company’s stock valued at $144,000 after buying an additional 185 shares during the period. JPMorgan Chase & Co. raised its position in Covanta Holding Corp. by 13.6% in the second quarter. JPMorgan Chase & Co. now owns 8,806 shares of the company’s stock valued at $145,000 after buying an additional 1,054 shares during the period. Finally, Glenmede Trust Co. NA raised its position in Covanta Holding Corp. by 5.5% in the second quarter. Glenmede Trust Co. NA now owns 9,507 shares of the company’s stock valued at $156,000 after buying an additional 496 shares during the period. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Covanta Holding Corp. (NYSE:CVA) traded down 1.839% during trading on Monday, reaching $14.675. 1,116,185 shares of the company’s stock were exchanged. The stock has a market capitalization of $1.89 billion, a PE ratio of 29.291 and a beta of 0.76. The stock has a 50-day moving average of $14.71 and a 200-day moving average of $15.58. Covanta Holding Corp. has a 52 week low of $12.48 and a 52 week high of $17.75.

Covanta Holding Corp. (NYSE:CVA) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.04. The company had revenue of $421 million for the quarter, compared to analyst estimates of $421.72 million. Covanta Holding Corp. had a net margin of 3.88% and a negative return on equity of 4.97%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, equities research analysts anticipate that Covanta Holding Corp. will post ($0.10) EPS for the current year.

Several equities analysts have issued reports on the company. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $20.00 target price on shares of Covanta Holding Corp. in a research note on Friday, September 23rd. Zacks Investment Research upgraded Covanta Holding Corp. from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Friday, October 21st. Barclays PLC upgraded Covanta Holding Corp. from an “equal weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a research note on Monday, November 7th. Finally, Macquarie assumed coverage on Covanta Holding Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating and a $18.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $17.82.

In other news, Director Robert S. Silberman bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The shares were purchased at an average cost of $14.73 per share, for a total transaction of $29,460.00. Following the completion of the purchase, the director now owns 66,500 shares of the company’s stock, valued at $979,545. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 11.80% of the company’s stock.

About Covanta Holding Corp.

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. It 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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