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CVA OMIB +3

17:17 02-Jan-19


Covanta has just filed a Form 4 indicating that EVP of Supply Chain Michael Joseph de Castro purchased 10K shares on the open market at $13.63 on December 28th. 

For the record, CVA closed at $13.50, which means 7.4% yield, though the next dividend is still 3 months off.  I see the stock as being similar to AES a year ago.  There may not be quite as much immediate upside, but there is appeal in its safety, plus the yield and deal prospects are better.