Covanta Holding Corporation (CVA, Financial) (CVA - $17.61 –NYSE) is a leader in sustainable waste and energy solutions with aglobal network of over 50 energy-from-waste and material processing facilities around the world. Shares were strong this quarter due to waste volumes almost back to pre-COVID levels and a rebound in recycled metals pricing driving year-over-year growth and exceeding analyst expectations. Additionally, the recent change in CEO has led to a strategic plan for the company to be on a path to more consistent pro tability through cost optimization/savings plan. In addition, Covanta will address underperforming assets through new contract negotiations or sale, third-party interest in non-core assets. It will use the bene ts of these initiatives to reduce debt. e stock received an additional boost from an industry report that the company is exploring a potential sale.
From Keeley Asset Management Corp (Trades, Portfolio)'s Small Cap Dividend Value Fund second-quarter 2021 letter.
