Bank of New York Mellon Corp Takes $2 Million Position in Enviri Corporation $NVRI

Key Points

• Bank of New York Mellon bought 91,288 Enviri shares worth approximately $2 million in the second quarter, while institutional investors collectively own 93.43% of the company.
• Analysts maintain a consensus “Hold” rating on NVRI, with a $24.50 average price target; BMO Capital Markets raised its target to $24 from $21.
• Enviri reported a weaker-than-expected quarter, with a $0.63 loss per share and $324 million in revenue, down 66.7% year over year. Two company insiders nevertheless purchased shares in August.

Bank of New York Mellon Corp purchased a new stake in Enviri Corporation (NYSE:NVRI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 91,288 shares of the company's stock, valued at approximately $2,004,000. Bank of New York Mellon Corp owned approximately 0.32% of Enviri as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Enviri by 333.0% in the first quarter. Bank of America Corp DE now owns 912,015 shares of the company's stock valued at $17,894,000 after purchasing an additional 701,365 shares during the period. OMERS ADMINISTRATION Corp raised its position in shares of Enviri by 183.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 921,561 shares of the company's stock worth $18,081,000 after purchasing an additional 596,861 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Enviri in the 1st quarter valued at about $3,417,000. Union Square Park Capital Management LLC acquired a new stake in Enviri in the 4th quarter worth about $3,226,000. Finally, Intech Investment Management LLC boosted its holdings in Enviri by 46.8% in the 4th quarter. Intech Investment Management LLC now owns 158,081 shares of the company's stock worth $2,833,000 after buying an additional 50,416 shares during the last quarter. Institutional investors and hedge funds own 93.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVRI. Weiss Ratings raised Enviri from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 25th. BMO Capital Markets lifted their target price on shares of Enviri from $21.00 to $24.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Enviri to a "hold" rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $24.50.

Insider Activity at Enviri

In other Enviri news, Director Carolann Haznedar bought 4,875 shares of the business's stock in a transaction on Monday, August 17th. The stock was bought at an average price of $20.46 per share, with a total value of $99,742.50. Following the completion of the purchase, the director directly owned 42,955 shares in the company, valued at $878,859.30. The trade was a 12.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter Minan bought 2,946 shares of Enviri stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $20.27 per share, for a total transaction of $59,715.42. Following the transaction, the chief financial officer directly owned 97,505 shares of the company's stock, valued at approximately $1,976,426.35. This trade represents a 3.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 2.50% of the company's stock.

Enviri Price Performance

Shares of NVRI stock opened at $23.30 on Wednesday. Enviri Corporation has a twelve month low of $11.15 and a twelve month high of $24.20. The company's 50-day moving average price is $22.20 and its 200-day moving average price is $20.45.

Enviri (NYSE:NVRI - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.63) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.32). The business had revenue of $324.00 million for the quarter, compared to the consensus estimate of $370.97 million. Enviri's revenue for the quarter was down 66.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. Equities research analysts forecast that Enviri Corporation will post -1.55 earnings per share for the current year.

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.

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