Oppenheimer & Co. Inc. boosted its holdings in shares of Covanta Holding Corp (NYSE:CVA) by 4.5% during the 4th quarter, Holdings Channel reports. The firm owned 37,503 shares of the energy company’s stock after purchasing an additional 1,601 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Covanta were worth $503,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of CVA. Winslow Evans & Crocker Inc. purchased a new stake in Covanta during the 4th quarter worth approximately $28,000. IFP Advisors Inc grew its position in shares of Covanta by 79.6% in the 4th quarter. IFP Advisors Inc now owns 4,000 shares of the energy company’s stock worth $53,000 after acquiring an additional 1,773 shares in the last quarter. Andesa Financial Management Inc. acquired a new position in shares of Covanta in the 4th quarter worth approximately $158,000. Janney Montgomery Scott LLC acquired a new position in shares of Covanta in the 3rd quarter worth approximately $166,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Covanta in the 3rd quarter worth approximately $172,000. Institutional investors own 80.50% of the company’s stock.
In related news, EVP Matthew Mulcahy sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $16.53, for a total transaction of $214,890.00. Following the completion of the transaction, the executive vice president now owns 88,094 shares in the company, valued at approximately $1,456,193.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Castro Michael Joseph De acquired 10,000 shares of Covanta stock in a transaction that occurred on Friday, December 28th. The shares were bought at an average price of $13.36 per share, with a total value of $133,600.00. The disclosure for this purchase can be found here. 10.90% of the stock is currently owned by company insiders.
Several brokerages have recently commented on CVA. ValuEngine upgraded Covanta from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Barclays began coverage on Covanta in a research report on Monday, January 7th. They issued an “equal weight” rating and a $16.00 target price for the company. BMO Capital Markets reiterated a “buy” rating and issued a $18.00 target price on shares of Covanta in a research report on Tuesday, January 8th. Raymond James decreased their target price on Covanta from $19.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Monday, October 29th. Finally, Goldman Sachs Group upgraded Covanta from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $16.50 to $19.00 in a research report on Monday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $17.00.
Shares of CVA opened at $17.37 on Friday. The company has a debt-to-equity ratio of 4.87, a quick ratio of 1.20 and a current ratio of 1.20. Covanta Holding Corp has a 52 week low of $12.92 and a 52 week high of $18.05.
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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