Highbridge Capital Management LLC Takes Position in Enviri Corporation $NVRI

Highbridge Capital Management LLC purchased a new stake in Enviri Corporation (NYSE:NVRI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,495,645 shares of the company’s stock, valued at approximately $26,802,000. Enviri accounts for approximately 0.9% of Highbridge Capital Management LLC’s holdings, making the stock its 29th largest position. Highbridge Capital Management LLC owned 1.85% of Enviri as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NVRI. Torren Management LLC purchased a new position in shares of Enviri during the 4th quarter worth approximately $37,000. Advisory Services Network LLC purchased a new position in shares of Enviri during the 3rd quarter worth approximately $27,000. BNP Paribas Financial Markets boosted its position in shares of Enviri by 43.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,621 shares of the company’s stock worth $66,000 after purchasing an additional 2,322 shares during the period. Handelsbanken Fonder AB purchased a new position in shares of Enviri during the 3rd quarter worth approximately $154,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Enviri by 14.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 12,640 shares of the company’s stock worth $110,000 after purchasing an additional 1,554 shares during the period. Hedge funds and other institutional investors own 93.43% of the company’s stock.

Wall Street Analyst Weigh In

NVRI has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enviri in a research report on Tuesday, April 21st. Lake Street Capital reaffirmed a “buy” rating and set a $25.00 price objective on shares of Enviri in a research report on Wednesday, February 25th. Finally, BMO Capital Markets increased their price objective on shares of Enviri from $19.00 to $19.50 and gave the stock a “market perform” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enviri has a consensus rating of “Hold” and a consensus price target of $22.25.

Enviri Price Performance

Enviri stock opened at $19.37 on Friday. The firm has a market cap of $1.60 billion, a PE ratio of -9.31 and a beta of 1.59. Enviri Corporation has a 52-week low of $7.70 and a 52-week high of $21.42. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 5.66. The company’s 50 day moving average is $19.50 and its two-hundred day moving average is $18.65.

Enviri (NYSE:NVRI) last released its earnings results on Monday, May 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.36. The company had revenue of $549.80 million for the quarter, compared to analyst estimates of $465.37 million. Enviri had a negative net margin of 7.50% and a negative return on equity of 8.59%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.18) EPS. On average, research analysts expect that Enviri Corporation will post -0.45 EPS for the current fiscal year.

Enviri Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, January 1st were issued a dividend of $15.00 per share. The ex-dividend date was Monday, June 1st.

Enviri Company Profile

Enviri Inc (NYSE: NVRI) is a provider of environmental monitoring, data intelligence and sustainability solutions for critical infrastructure and industrial operations. The company integrates Internet of Things (IoT) sensor hardware, cloud-based analytics and field services to collect, process and visualize environmental data. Enviri’s platform supports real-time monitoring and historical trend analysis across water, air and wastewater streams to help clients meet regulatory requirements and manage environmental risk.

Enviri’s product suite includes ruggedized sensor networks, remote data loggers, automated sampling systems and a web-based analytics portal.