Ameriprise Financial Inc. Acquires 4777 Shares of Covanta Holding Corporation (NYSE:CVA)

Paola Ditto
Luglio 17, 2017

TIAA CREF Investment Management LLC reduced its position in Covanta Holding Corporation (NYSE:CVA) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The dividend payment was $0.250 per share for the quarter which is $1.00 annualized.

Several equities research analysts have recently weighed in on CVA shares. Zacks Investment Research downgraded Covanta Holding Corporation from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 27th. On Wednesday, January 20 the stock rating was maintained by Oppenheimer with "Outperform". BMO Capital Markets began coverage on Covanta Holding Corporation in a study analysis published on early Thur, Jun 29th. The rating was upgraded by Barclays Capital on Wednesday, July 12 to "Overweight". Robert W. Baird raised Covanta Holding Corporation from a "neutral" rating to an "outperform" rating and set a $17.00 price target for the company in a research report on Monday, May 15th.

In other Covanta Holding Corporation news, Director Michael W. Ranger purchased 40,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $14.33, for a total value of $42,990.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

In related news, insider Paul E. Stauder sold 2,500 shares of Covanta Holding Corporation stock in a transaction dated Wednesday, May 24th. Following the completion of the transaction, the insider now directly owns 30,639 shares in the company, valued at $444,265.50. The disclosure for this sale can be found here.

Large investors have recently bought and sold shares of the company. Tudor Investment ET AL bought a new stake in stocks of Covanta Holding Corporation during the Q1 valued roughly $197,000. The stock had a trading volume of 882,984 shares. Copeland Capital Management Limited Company invested in 0.02% or 1,500 shares. First Fiduciary Investment Counsel Incorporated holds 95,499 shares or 3.27% of its portfolio. Finally, Paloma Partners Management Co purchased a new stake in Covanta Holding Corporation during the first quarter valued at approximately $329,000. CNA Financial Corp now owns 554,768 shares of the energy company's stock valued at $8,710,000 after buying an additional 27,768 shares during the period. Institutional investors own 90.01% of the company's stock.

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Shares of Covanta Holding Corporation (NYSE:CVA) traded down 1.83% on Friday, hitting $13.40. About 530,790 shares traded. The company has market cap of $1.72 billion. Covanta Holding Corporation has a 12 month low of $13.00 and a 12 month high of $17.09. The firm has a 50-day moving average price of $14.26 and a 200-day moving average price of $15.16.

Covanta Holding Corporation (NYSE:CVA) last posted its quarterly earnings results on Tuesday, April 25th. However the company reported $-0.22 earnings per share for the same quarter during previous year. The SI to Covanta Holding Corporation's float is 13.3%.

While considering growth estimates of the company, it has next quarter growth estimates of -5.6% whereas during current quarter it has 36.4% estimations over growth, comparing to the estimations of 33.3% during current year and 280% for next year. The firm's revenue for the quarter was up.2% on a year-over-year basis.

According to analysts Covanta Holding Corp (NYSE:CVA)'s minimum EPS for the current quarter is at $-0.28 and can go high up to $-0.09. Shareholders of record on Thursday, June 29th were paid a $0.25 dividend. The ex-dividend date is Tuesday, June 27th. Covanta Holding Corporation's dividend payout ratio (DPR) is -714.23%.

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