Bank of America Corp DE Lowers Stock Position in Enviri Co. (NYSE:NVRI)

Bank of America Corp DE reduced its stake in shares of Enviri Co. (NYSE:NVRI - Free Report) by 23.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,204 shares of the company's stock after selling 44,112 shares during the quarter. Bank of America Corp DE owned approximately 0.18% of Enviri worth $1,118,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NVRI. Hsbc Holdings PLC raised its holdings in Enviri by 5,438.2% in the fourth quarter. Hsbc Holdings PLC now owns 903,051 shares of the company's stock worth $6,873,000 after purchasing an additional 886,745 shares in the last quarter. Mill Road Capital Management LLC lifted its holdings in shares of Enviri by 82.6% during the 4th quarter. Mill Road Capital Management LLC now owns 1,795,131 shares of the company's stock valued at $13,823,000 after purchasing an additional 811,859 shares during the last quarter. Bridgewater Associates LP lifted its holdings in shares of Enviri by 944.3% during the 4th quarter. Bridgewater Associates LP now owns 612,997 shares of the company's stock valued at $4,720,000 after purchasing an additional 554,300 shares during the last quarter. AYAL Capital Advisors Ltd lifted its holdings in shares of Enviri by 145.0% during the 4th quarter. AYAL Capital Advisors Ltd now owns 881,924 shares of the company's stock valued at $6,791,000 after purchasing an additional 521,924 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Enviri by 26.9% during the 4th quarter. Invesco Ltd. now owns 2,126,739 shares of the company's stock valued at $16,376,000 after purchasing an additional 450,327 shares during the last quarter. 93.43% of the stock is currently owned by hedge funds and other institutional investors.

Enviri Stock Up 3.7%

Shares of NVRI traded up $0.30 during midday trading on Monday, hitting $8.50. 487,615 shares of the company's stock traded hands, compared to its average volume of 731,530. The stock has a market capitalization of $681.81 million, a price-to-earnings ratio of -5.35 and a beta of 1.81. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 3.14. Enviri Co. has a 1 year low of $4.72 and a 1 year high of $12.79. The firm's fifty day moving average is $6.92 and its 200-day moving average is $7.47.

Enviri (NYSE:NVRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.03. Enviri had a negative net margin of 5.46% and a negative return on equity of 0.90%. The company had revenue of $548.28 million for the quarter, compared to the consensus estimate of $560.00 million. During the same quarter in the prior year, the company earned ($0.03) EPS. Enviri's quarterly revenue was down 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Enviri Co. will post -0.13 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Russell C. Hochman purchased 40,127 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $6.27 per share, with a total value of $251,596.29. Following the completion of the acquisition, the senior vice president now owns 120,357 shares of the company's stock, valued at approximately $754,638.39. This represents a 50.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tom George Vadaketh purchased 40,297 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $6.20 per share, with a total value of $249,841.40. Following the acquisition, the chief financial officer now owns 132,431 shares in the company, valued at $821,072.20. This represents a 43.74% increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.

Enviri Profile

Enviri Corporation provides environmental solutions for industrial and specialty waste streams in the United States and internationally. The company operates through two segments: Harsco Environmental and Clean Earth. The Harsco Environmental segment offers on-site services under long-term contracts for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and meltshop and furnace services, such as under-vessel cleaning, removal of ladle slag, and general melt shop debris.