Covanta Holding Corp (CVA) : Capital Management Associates Ny reduced its stake in Covanta Holding Corp by 0.16% during the most recent quarter end. The investment management company now holds a total of 62,925 shares of Covanta Holding Corp which is valued at $952,685 after selling 100 shares in Covanta Holding Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Covanta Holding Corp makes up approximately 1.56% of Capital Management Associates Ny’s portfolio.
Other Hedge Funds, Including , Absolute Return Capital sold out all of its stake in CVA during the most recent quarter. The investment firm sold 20,556 shares of CVA which is valued $311,218.Levin Capital Strategies reduced its stake in CVA by selling 3,303 shares or 0.06% in the most recent quarter. The Hedge Fund company now holds 5,414,149 shares of CVA which is valued at $81,970,216. Covanta Holding Corp makes up approx 1.39% of Levin Capital Strategies’s portfolio.Norges Bank boosted its stake in CVA in the latest quarter, The investment management firm added 4,306 additional shares and now holds a total of 2,364,096 shares of Covanta Holding Corp which is valued at $35,792,413. Covanta Holding Corp makes up approx 0.02% of Norges Bank’s portfolio. Dynamic Technology Lab Private Ltd added CVA to its portfolio by purchasing 27,304 company shares during the most recent quarter which is valued at $413,383. Covanta Holding Corp makes up approx 0.11% of Dynamic Technology Lab Private Ltd’s portfolio.Ridgeworth Capital Management reduced its stake in CVA by selling 117,806 shares or 3.87% in the most recent quarter. The Hedge Fund company now holds 2,929,543 shares of CVA which is valued at $44,382,576. Covanta Holding Corp makes up approx 0.38% of Ridgeworth Capital Management’s portfolio.
Covanta Holding Corp closed down -0.05 points or -0.34% at $14.84 with 7,87,009 shares getting traded on Thursday. Post opening the session at $14.83, the shares hit an intraday low of $14.78 and an intraday high of $14.96 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
On the company’s financial health, Covanta Holding Corp reported $-0.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.10 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $-0.09. The company had revenue of $403.00 million for the quarter, compared to analysts expectations of $399.56 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.13 EPS.
Many Wall Street Analysts have commented on Covanta Holding Corp. Macquarie Initiated Covanta Holding Corp on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $18.
Covanta Holding Corporation is a holding company. Through its subsidiaries the Company owns and operates infrastructure for the conversion of waste to energy as well as other waste disposal and renewable energy production businesses. Energy-from-waste (EfW) serves two markets as both a sustainable waste management solution and as a source of clean energy. The Company operate and/or have ownership positions in 46 EfW facilities which are primarily located in North America and 11 additional energy generation facilities including other renewable energy production facilities in North America (wood biomass and hydroelectric). In total these assets produce approximately 10 million megawatt hours (MWh) of baseload electricity. The Company also operates a waste management infrastructure including 18 transfer stations. The Company also operates and in some cases has ownership interests in transfer stations and landfills.