K2 Principal Fund L.P. Makes New Investment in Enviri Corporation $NVRI

K2 Principal Fund L.P. acquired a new position in shares of Enviri Corporation (NYSE:NVRI) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 82,987 shares of the company’s stock, valued at approximately $1,487,000.

Several other hedge funds have also recently bought and sold shares of the stock. Pertento Partners LLP acquired a new position in Enviri during the third quarter worth $43,542,000. Geode Capital Management LLC raised its stake in Enviri by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,854,838 shares of the company’s stock worth $33,243,000 after acquiring an additional 7,203 shares in the last quarter. Newtyn Management LLC raised its stake in Enviri by 69.1% during the third quarter. Newtyn Management LLC now owns 1,692,967 shares of the company’s stock worth $21,484,000 after acquiring an additional 691,949 shares in the last quarter. Davidson Kempner Capital Management LP acquired a new position in Enviri during the third quarter worth $21,367,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Enviri by 10.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,535,519 shares of the company’s stock worth $27,516,000 after acquiring an additional 140,634 shares in the last quarter. 93.43% of the stock is currently owned by institutional investors and hedge funds.

Enviri Price Performance

Enviri stock opened at $21.39 on Friday. The business’s 50-day simple moving average is $19.67 and its 200 day simple moving average is $18.88. The stock has a market cap of $601.26 million, a price-to-earnings ratio of -10.29 and a beta of 1.59. Enviri Corporation has a 12-month low of $7.70 and a 12-month high of $21.74. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 5.66.

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

Enviri Announces Dividend

The business also recently announced a dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, January 1st were issued a dividend of $15.00 per share. The ex-dividend date was Monday, June 1st.

Insider Transactions at Enviri

In related news, CFO Peter Francis Minan bought 8,333 shares of Enviri stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $19.25 per share, for a total transaction of $160,410.25. Following the completion of the acquisition, the chief financial officer owned 16,434 shares in the company, valued at approximately $316,354.50. This represents a 102.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NVRI. Wall Street Zen upgraded Enviri to a “hold” rating in a research note on Saturday. BMO Capital Markets raised their target price on Enviri from $19.00 to $19.50 and gave the company a “market perform” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Enviri in a research note on Tuesday, April 21st. Finally, Lake Street Capital restated a “buy” rating and issued a $25.00 target price on shares of Enviri in a research note on Wednesday, February 25th. One research 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.com, the stock currently has an average rating of “Hold” and a consensus price target 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.