A company’s own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money – maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ”top brass” over the trailing six month period, one of which was a total of $144.8K by Stephen J. Jones, CEO at Covanta Holding Corp (Symbol: CVA).
|04/27/2017||Stephen J. Jones||President and CEO||10,000||$14.48||$144,793.00|
Jones’s average cost works out to $14.48/share. In trading on Friday, bargain hunters could buy shares of Covanta Holding Corp (Symbol: CVA) and achieve a cost basis lower than Jones, with shares changing hands as low as $14.22 per share. Shares of Covanta Holding Corp were changing hands at $14.30 at last check, trading off about 1.6% on Friday. The chart below shows the one year performance of CVA shares, versus its 200 day moving average: Looking at the chart above, CVA’s low point in its 52 week range is $13.45 per share, with $17.16 as the 52 week high point – that compares with a last trade of $14.30. The current annualized dividend paid by Covanta Holding Corp is $1.00/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 06/27/2017. Below is a long-term dividend history chart for CVA, which can be of good help in judging whether the most recent dividend with approx. 6.9% annualized yield is likely to continue. According to the ETF Finder at ETF Channel, CVA makes up 4.71% of the iShares Global Clean Energy ETF (Symbol: ICLN) which is trading lower by about 0.1% on the day Friday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.