Cullen Frost Bankers Inc. Sells 2,636 Shares of Covanta Holding Corp (NYSE:CVA)

Cullen Frost Bankers Inc. trimmed its holdings in Covanta Holding Corp (NYSE:CVA) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,797 shares of the energy company’s stock after selling 2,636 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Covanta were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Coastline Trust Co increased its stake in shares of Covanta by 1.9% in the 2nd quarter. Coastline Trust Co now owns 146,930 shares of the energy company’s stock worth $2,632,000 after acquiring an additional 2,680 shares in the last quarter. Alps Advisors Inc. increased its stake in Covanta by 100.0% during the 2nd quarter. Alps Advisors Inc. now owns 181,903 shares of the energy company’s stock valued at $3,258,000 after purchasing an additional 90,963 shares in the last quarter. Atria Investments LLC bought a new stake in Covanta during the 2nd quarter valued at about $913,000. Bank of Montreal Can increased its stake in Covanta by 4.0% during the 2nd quarter. Bank of Montreal Can now owns 102,358 shares of the energy company’s stock valued at $1,834,000 after purchasing an additional 3,929 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Covanta by 23.1% during the 2nd quarter. Asset Management One Co. Ltd. now owns 37,468 shares of the energy company’s stock valued at $672,000 after purchasing an additional 7,042 shares in the last quarter. Institutional investors own 78.75% of the company’s stock.

NYSE:CVA opened at $14.76 on Friday. The firm has a market cap of $1.97 billion, a P/E ratio of -147.60, a P/E/G ratio of 19.99 and a beta of 1.29. The company has a debt-to-equity ratio of 6.85, a quick ratio of 1.30 and a current ratio of 1.40. Covanta Holding Corp has a fifty-two week low of $12.92 and a fifty-two week high of $18.38. The firm has a 50-day simple moving average of $16.28 and a two-hundred day simple moving average of $17.14.

Covanta (NYSE:CVA) last announced its quarterly earnings results on Thursday, October 24th. The energy company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The firm had revenue of $465.00 million for the quarter, compared to the consensus estimate of $464.96 million. Covanta had a net margin of 0.37% and a return on equity of 0.69%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.04) EPS. On average, equities research analysts predict that Covanta Holding Corp will post 0.05 EPS for the current year.

CVA has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Covanta from a “strong sell” rating to a “hold” rating and set a $14.00 price objective for the company in a research note on Wednesday, July 31st. Barclays restated a “hold” rating and set a $16.00 price objective on shares of Covanta in a research note on Tuesday, October 29th. ValuEngine lowered shares of Covanta from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Raymond James lowered shares of Covanta from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.00.

In other news, Director Linda J. Fisher sold 12,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $17.14, for a total transaction of $205,680.00. Following the sale, the director now owns 34,736 shares of the company’s stock, valued at approximately $595,375.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.00% of the company’s stock.

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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