JPMorgan Chase & Co. Has $402,000 Stake in Covanta Holding Corporation (NYSE:CVA)

JPMorgan Chase & Co. boosted its stake in Covanta Holding Corporation (NYSE:CVA) by 40.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,629 shares of the energy company’s stock after buying an additional 7,338 shares during the period. JPMorgan Chase & Co.’s holdings in Covanta Holding Corporation were worth $402,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Wellington Shields & Co. LLC boosted its stake in Covanta Holding Corporation by 0.6% in the first quarter. Wellington Shields & Co. LLC now owns 16,039 shares of the energy company’s stock valued at $252,000 after buying an additional 94 shares during the last quarter. Huntington National Bank raised its position in Covanta Holding Corporation by 3.2% in the first quarter. Huntington National Bank now owns 16,442 shares of the energy company’s stock worth $258,000 after buying an additional 515 shares during the period. M&T Bank Corp raised its position in Covanta Holding Corporation by 1.9% in the first quarter. M&T Bank Corp now owns 35,137 shares of the energy company’s stock worth $552,000 after buying an additional 668 shares during the period. Swiss National Bank raised its position in Covanta Holding Corporation by 1.3% in the first quarter. Swiss National Bank now owns 193,900 shares of the energy company’s stock worth $3,044,000 after buying an additional 2,500 shares during the period. Finally, Wedbush Securities Inc. raised its position in Covanta Holding Corporation by 10.8% in the first quarter. Wedbush Securities Inc. now owns 28,748 shares of the energy company’s stock worth $451,000 after buying an additional 2,806 shares during the period. Institutional investors own 90.04% of the company’s stock.

Covanta Holding Corporation (NYSE:CVA) traded down 2.12% during trading on Friday, hitting $13.85. 1,188,443 shares of the company’s stock traded hands. Covanta Holding Corporation has a 12-month low of $13.00 and a 12-month high of $16.50. The firm’s 50-day moving average price is $13.79 and its 200 day moving average price is $14.78. The stock’s market cap is $1.80 billion.

Covanta Holding Corporation (NYSE:CVA) last posted its quarterly earnings results on Thursday, July 27th. The energy company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. Covanta Holding Corporation had a negative net margin of 1.41% and a negative return on equity of 9.81%. The business had revenue of $424 million during the quarter, compared to analyst estimates of $416.18 million. During the same period last year, the firm posted ($0.22) earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts anticipate that Covanta Holding Corporation will post ($0.23) earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. BidaskClub lowered shares of Covanta Holding Corporation from a “hold” rating to a “sell” rating in a research note on Friday. Stifel Nicolaus raised shares of Covanta Holding Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $15.50 to $17.00 in a research note on Monday, July 31st. BMO Capital Markets raised shares of Covanta Holding Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $17.00 in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Covanta Holding Corporation in a research report on Monday, July 17th. Finally, Barclays PLC raised shares of Covanta Holding Corporation from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $16.00 to $15.00 in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.28.

In other Covanta Holding Corporation news, insider Paul E. Stauder sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $14.50, for a total transaction of $36,250.00. Following the sale, the insider now directly owns 30,639 shares in the company, valued at approximately $444,265.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.60% of the company’s stock.

Covanta Holding Corporation Company Profile

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. The Company operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada.