Highbridge Capital Management LLC Makes New $26.80 Million Investment in Enviri Corporation $NVRI

Highbridge Capital Management LLC bought a new position in shares of Enviri Corporation (NYSE:NVRI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,495,645 shares of the company’s stock, valued at approximately $26,802,000. Enviri makes up 0.9% of Highbridge Capital Management LLC’s holdings, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Enviri by 5.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,420 shares of the company’s stock valued at $317,000 after purchasing an additional 872 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Enviri by 14.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,640 shares of the company’s stock valued at $110,000 after purchasing an additional 1,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Enviri by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,127 shares of the company’s stock valued at $313,000 after purchasing an additional 2,028 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Enviri in the 4th quarter valued at $37,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Enviri in the 3rd quarter valued at $27,000. 93.43% of the stock is currently owned by institutional investors and hedge funds.

Enviri Price Performance

Shares of NYSE:NVRI opened at $19.37 on Friday. The company’s fifty day moving average price is $19.50 and its 200 day moving average price is $18.65. Enviri Corporation has a 12 month low of $7.70 and a 12 month high of $21.42. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.13 and a quick ratio of 0.86. The firm has a market capitalization of $1.60 billion, a P/E ratio of -9.31 and a beta of 1.59.

Enviri (NYSE:NVRI) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.26) by $0.36. Enviri had a negative net margin of 7.50% and a negative return on equity of 8.59%. The firm had revenue of $549.80 million for the quarter, compared to analyst estimates of $465.37 million. During the same period last year, the business earned ($0.18) EPS. Enviri’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Enviri Corporation will post -0.45 earnings per share for the current fiscal year.

Enviri Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, January 1st were paid a $15.00 dividend. The ex-dividend date was Monday, June 1st.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NVRI shares. Lake Street Capital restated a “buy” rating and issued a $25.00 price objective on shares of Enviri in a report on Wednesday, February 25th. BMO Capital Markets raised their price objective on shares of Enviri from $19.00 to $19.50 and gave the company a “market perform” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Enviri in a report on Tuesday, April 21st. One 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.25.

Enviri Company Profile

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.