Innovex International, Inc. $INVX Holdings Raised by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Innovex International, Inc. by 30.8%, owning 122,795 shares valued at $2.21 million as of the latest quarter.
• Several hedge funds, including Nuveen LLC and Invesco Ltd., have also raised their positions in Innovex International, reflecting growing institutional interest.
• Innovex International reported earnings of $0.28 per share for the last quarter, beating analyst expectations, with a revenue of $224.23 million despite a consensus estimate of $230 million.

Public Sector Pension Investment Board lifted its stake in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 30.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 122,795 shares of the company's stock after purchasing an additional 28,934 shares during the quarter. Public Sector Pension Investment Board owned about 0.18% of Innovex International worth $2,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Madison Avenue Partners LP grew its stake in Innovex International by 64.6% in the 4th quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company's stock valued at $23,560,000 after acquiring an additional 662,009 shares during the last quarter. Nuveen LLC acquired a new stake in Innovex International in the 1st quarter valued at about $7,089,000. Investment Management Associates Inc. ADV purchased a new position in Innovex International in the 1st quarter valued at about $6,937,000. Invesco Ltd. boosted its stake in shares of Innovex International by 175.8% during the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company's stock worth $4,645,000 after purchasing an additional 211,907 shares during the last quarter. Finally, GeoSphere Capital Management LLC acquired a new stake in shares of Innovex International during the 4th quarter worth about $2,794,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INVX. Barclays decreased their price target on shares of Innovex International from $16.00 to $13.00 and set an "underweight" rating on the stock in a research note on Friday, May 9th. Wall Street Zen cut shares of Innovex International from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Johnson Rice upgraded shares of Innovex International to a "strong-buy" rating in a report on Friday, May 30th. Finally, Piper Sandler assumed coverage on shares of Innovex International in a report on Tuesday, July 15th. They set an "overweight" rating and a $20.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $16.50.

Innovex International Trading Down 1.4%

NYSE INVX traded down $0.23 during mid-day trading on Tuesday, hitting $16.72. The company's stock had a trading volume of 352,340 shares, compared to its average volume of 355,565. Innovex International, Inc. has a 52-week low of $11.93 and a 52-week high of $19.42. The stock's fifty day simple moving average is $16.16 and its two-hundred day simple moving average is $16.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.60 and a quick ratio of 2.69. The firm has a market capitalization of $1.15 billion, a P/E ratio of 5.79 and a beta of 0.79.

Innovex International (NYSE:INVX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Innovex International had a net margin of 16.66% and a return on equity of 8.58%. The company had revenue of $224.23 million during the quarter, compared to the consensus estimate of $230.00 million. Innovex International has set its Q3 2025 guidance at EPS.

About Innovex International

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.