Shares of Covanta Holding Corp (NYSE:CVA) have earned an average recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $17.29.

Several equities analysts recently weighed in on the company. Zacks Investment Research raised Covanta from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. UBS assumed coverage on Covanta in a research report on Wednesday, March 14th. They set a “neutral” rating and a $15.00 price objective for the company. Finally, ValuEngine raised Covanta from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th.

CVA opened at $16.55 on Thursday. The stock has a market cap of $2.06 billion, a PE ratio of -44.73, a P/E/G ratio of 24.23 and a beta of 0.69. Covanta has a 52-week low of $13.00 and a 52-week high of $17.30. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 3.75.

Covanta (NYSE:CVA) last posted its quarterly earnings data on Thursday, April 26th. The energy company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.12. Covanta had a negative return on equity of 3.19% and a net margin of 17.17%. The business had revenue of $458.00 million during the quarter, compared to analysts’ expectations of $431.30 million. During the same quarter in the previous year, the firm earned ($0.37) EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. equities research analysts forecast that Covanta will post 0.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 6th. Investors of record on Friday, June 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 6.04%. Covanta’s dividend payout ratio is presently -270.27%.

In other news, insider Stephen J. Jones purchased 15,000 shares of the business’s stock in a transaction on Thursday, May 3rd. The stock was purchased at an average price of $15.20 per share, with a total value of $228,000.00. Following the acquisition, the insider now directly owns 241,057 shares in the company, valued at approximately $3,664,066.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul E. Stauder sold 2,322 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $15.56, for a total value of $36,130.32. Following the completion of the transaction, the insider now directly owns 44,025 shares of the company’s stock, valued at approximately $685,029. The disclosure for this sale can be found here. Insiders have sold a total of 13,822 shares of company stock valued at $214,365 in the last three months. 10.90% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of CVA. Schwab Charles Investment Management Inc. raised its holdings in Covanta by 4.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,059,557 shares of the energy company’s stock valued at $17,907,000 after acquiring an additional 44,637 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Covanta in the 4th quarter valued at approximately $178,000. Gabelli Funds LLC raised its holdings in Covanta by 2.3% in the 4th quarter. Gabelli Funds LLC now owns 181,000 shares of the energy company’s stock valued at $3,059,000 after acquiring an additional 4,000 shares in the last quarter. First Mercantile Trust Co. acquired a new position in Covanta in the 4th quarter valued at approximately $697,000. Finally, Teacher Retirement System of Texas acquired a new position in Covanta in the 4th quarter valued at approximately $684,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

About Covanta

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.

Analyst Recommendations for Covanta (NYSE:CVA)

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