Covanta Holding Corp (NYSE:CVA) Stock Position Trimmed by Seelaus Asset Management LLC

Seelaus Asset Management LLC lessened its position in shares of Covanta Holding Corp (NYSE:CVA) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,204 shares of the energy company’s stock after selling 3,076 shares during the quarter. Covanta accounts for 1.7% of Seelaus Asset Management LLC’s portfolio, making the stock its 8th largest position. Seelaus Asset Management LLC owned approximately 0.08% of Covanta worth $1,830,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Stephens Inc. AR boosted its stake in shares of Covanta by 4.8% in the first quarter. Stephens Inc. AR now owns 27,497 shares of the energy company’s stock worth $476,000 after buying an additional 1,256 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Covanta by 2.2% during the second quarter. Commonwealth Equity Services LLC now owns 73,386 shares of the energy company’s stock worth $1,314,000 after purchasing an additional 1,565 shares in the last quarter. Raymond James Trust N.A. boosted its position in Covanta by 5.1% during the first quarter. Raymond James Trust N.A. now owns 33,902 shares of the energy company’s stock worth $587,000 after purchasing an additional 1,649 shares in the last quarter. HCR Wealth Advisors purchased a new position in Covanta during the first quarter worth approximately $411,000. Finally, NumerixS Investment Technologies Inc boosted its position in Covanta by 34.5% during the first quarter. NumerixS Investment Technologies Inc now owns 9,600 shares of the energy company’s stock worth $166,000 after purchasing an additional 2,464 shares in the last quarter. Institutional investors and hedge funds own 78.57% of the company’s stock.

In related news, insider Paul E. Stauder sold 2,996 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $17.25, for a total value of $51,681.00. Following the completion of the sale, the insider now owns 51,599 shares of the company’s stock, valued at $890,082.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Castro Michael Joseph De sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $17.08, for a total value of $170,800.00. Following the completion of the sale, the executive vice president now directly owns 90,203 shares of the company’s stock, valued at approximately $1,540,667.24. The disclosure for this sale can be found here. Insiders have sold 63,612 shares of company stock valued at $1,122,043 in the last three months. Insiders own 11.00% of the company’s stock.

Shares of Covanta stock traded up $0.20 during mid-day trading on Tuesday, reaching $16.96. 9,345 shares of the stock traded hands, compared to its average volume of 754,959. The company has a 50-day moving average price of $17.43. Covanta Holding Corp has a fifty-two week low of $12.92 and a fifty-two week high of $18.38. The stock has a market capitalization of $2.20 billion, a PE ratio of -169.65, a PEG ratio of 20.90 and a beta of 1.31. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 6.19.

Covanta (NYSE:CVA) last announced its earnings results on Thursday, July 25th. The energy company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). Covanta had a negative net margin of 1.81% and a negative return on equity of 3.22%. The firm had revenue of $467.00 million for the quarter, compared to analyst estimates of $467.05 million. During the same period in the previous year, the company earned ($0.01) EPS. Covanta’s revenue was up 2.9% compared to the same quarter last year. As a group, analysts forecast that Covanta Holding Corp will post 0.05 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on CVA shares. TheStreet downgraded Covanta from a “b-” rating to a “c” rating in a research report on Friday, April 26th. Macquarie started coverage on Covanta in a research report on Monday, April 29th. They set an “outperform” rating on the stock. Finally, Zacks Investment Research upgraded Covanta from a “strong sell” rating to a “hold” rating and set a $14.00 price target on the stock in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $17.00.

Covanta Profile

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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Institutional Ownership by Quarter for Covanta (NYSE:CVA)

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