Meros Investment Management LP bought a new position in Enviri Corporation (NYSE:NVRI – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 288,617 shares of the company’s stock, valued at approximately $6,335,143. Enviri makes up 0.0% of Meros Investment Management LP’s portfolio, making the stock its 20th largest holding. Meros Investment Management LP owned about 1.02% of Enviri as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of NVRI. BlackRock Inc. purchased a new position in shares of Enviri during the second quarter valued at approximately $45,735,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Enviri during the third quarter valued at approximately $21,367,000. Hudson Bay Capital Management LP acquired a new stake in shares of Enviri during the 4th quarter worth approximately $26,880,000. Highbridge Capital Management LLC bought a new stake in Enviri in the fourth quarter worth about $26,802,000. Finally, Millennium Management LLC lifted its position in Enviri by 4,621.0% in the 3rd quarter. Millennium Management LLC now owns 1,347,373 shares of the company’s stock worth $17,098,000 after buying an additional 1,318,833 shares in the last quarter. 93.43% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Enviri
In related news, CFO Peter Francis Minan purchased 2,946 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average price of $20.27 per share, for a total transaction of $59,715.42. Following the completion of the acquisition, the chief financial officer directly owned 97,505 shares in the company, valued at approximately $1,976,426.35. The trade was a 3.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolann I. Haznedar purchased 4,875 shares of Enviri 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 transaction, the director owned 42,955 shares of the company’s stock, valued at approximately $878,859.30. This represents a 12.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 16,154 shares of company stock worth $319,868 in the last 90 days. Company insiders own 2.50% of the company’s stock.
Enviri Trading Down 0.4%
Enviri (NYSE:NVRI – Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.63) earnings per share (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. The firm’s quarterly revenue was down 66.7% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. Equities analysts forecast that Enviri Corporation will post -1.55 earnings per share for the current fiscal year.
Enviri Announces Dividend
The firm also recently announced a dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, January 1st were paid a dividend of $15.00 per share. The ex-dividend date was Monday, June 1st.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on NVRI shares. Wall Street Zen raised Enviri to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings raised Enviri from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday. Finally, BMO Capital Markets upped 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. One 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 company currently has a consensus rating of “Hold” and a consensus target price of $24.50.
Get Our Latest Research Report on NVRI
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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