Enviri Corporation $NVRI Stock Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Enviri stake by 111.2% in the third quarter, adding 41,944 shares to hold 79,669 shares valued at about $1.56 million. Institutional investors collectively own 93.43% of the company.
• Analyst sentiment is broadly neutral: the consensus rating is Hold, with a $24.50 price target. Enviri reported quarterly EPS of -$0.16, beating estimates of -$0.54, and revenue of $325.03 million, though revenue fell 43.5% year over year.
• Two company insiders also bought shares: a director acquired 4,875 shares and the CFO purchased 2,946 shares in August.

CenterBook Partners LP boosted its holdings in shares of Enviri Corporation (NYSE:NVRI - Free Report) by 111.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,669 shares of the company's stock after purchasing an additional 41,944 shares during the period. CenterBook Partners LP owned about 0.28% of Enviri worth $1,556,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Bleakley Financial Group LLC grew its stake in Enviri by 3.4% during the first quarter. Bleakley Financial Group LLC now owns 16,380 shares of the company's stock worth $321,000 after buying an additional 531 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Enviri during the 2nd quarter worth about $25,000. Rockefeller Capital Management L.P. raised its position in shares of Enviri by 204.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,882 shares of the company's stock valued at $34,000 after acquiring an additional 1,264 shares during the last quarter. KBC Group NV acquired a new position in Enviri in the first quarter valued at about $31,000. Finally, State of Wyoming acquired a new stake in shares of Enviri in the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 93.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen raised Enviri from a "sell" rating to a "hold" rating in a research note on Saturday. BMO Capital Markets lifted their price objective on Enviri from $21.00 to $24.00 and gave the company a "market perform" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings lowered Enviri from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $24.50.

Insider Transactions at Enviri

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

Enviri Stock Performance

Enviri stock opened at $24.92 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $20.54 and a 200 day simple moving average of $20.25. Enviri Corporation has a 1-year low of $11.15 and a 1-year high of $25.01.

Enviri (NYSE:NVRI - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.38. The company had revenue of $325.03 million for the quarter, compared to analyst estimates of $317.13 million. Enviri's revenue was down 43.5% compared to the same quarter last year. Sell-side analysts expect that Enviri Corporation will post -1.55 EPS for the current fiscal year.

Enviri Profile

Enviri Corporation NYSE: NVRI is an environmental solutions company that provides services and products designed to help industrial, commercial and government customers manage waste, recover materials and improve resource efficiency. The company serves customers in multiple regions, with operations spanning North America, Europe and other international markets.

Enviri's Harsco Environmental business provides environmental services to the global steel industry. Its activities include the processing and beneficial reuse of steel slag and other byproducts, metal recovery, slag handling, site services and the production of mineral-based products used in areas such as construction and infrastructure.

Through its Clean Earth business, Enviri manages hazardous and non-hazardous waste streams for industrial, healthcare, pharmaceutical, retail and government customers.

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