BlackRock Inc. Makes New $45.73 Million Investment in Enviri Corporation $NVRI

Key Points

• BlackRock acquired a new 7.41% stake in Enviri, purchasing 2.08 million shares valued at approximately $45.7 million. Institutional investors collectively own 93.43% of the company.
• Analyst sentiment remains mixed but centered on “Hold”: one analyst rates Enviri a Buy, three rate it Hold, and one rates it Sell, with a consensus price target of $24.50.
• Enviri reported a weaker-than-expected quarter, including a $0.63 loss per share versus an expected $0.31 loss and revenue of $324 million, down 66.7% year over year. Company insiders nevertheless purchased 16,154 shares worth about $319,868 over the last quarter.

BlackRock Inc. bought a new stake in shares of Enviri Corporation (NYSE:NVRI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,083,593 shares of the company's stock, valued at approximately $45,735,000. BlackRock Inc. owned approximately 7.41% of Enviri as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVRI. Bank of America Corp DE raised 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 worth $17,894,000 after buying an additional 701,365 shares in the last quarter. Credit Industriel ET Commercial purchased a new stake in shares of Enviri in the 4th quarter valued at about $2,330,000. OMERS ADMINISTRATION Corp boosted 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 valued at $18,081,000 after acquiring an additional 596,861 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Enviri during the first quarter worth about $3,417,000. Finally, Carlson Capital L.P. bought a new position in shares of Enviri in the fourth quarter worth approximately $627,000. 93.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CFO Peter Francis Minan purchased 2,946 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $20.27 per share, with a total value 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 represents a 3.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolann I. Haznedar purchased 4,875 shares of the business's stock in a transaction on Monday, August 17th. The stock was purchased at an average cost of $20.46 per share, for a total transaction of $99,742.50. Following the acquisition, the director owned 42,955 shares in the company, valued at approximately $878,859.30. The trade was a 12.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 16,154 shares of company stock valued at $319,868 over the last quarter.

Enviri Trading Up 0.1%

NVRI opened at $22.31 on Tuesday. Enviri Corporation has a 12 month low of $10.81 and a 12 month high of $24.20. The business's 50-day moving average price is $22.05 and its 200-day moving average price is $20.29.

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

About Enviri

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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