Equitable Holdings Inc. Takes Position in Enviri Corporation $NVRI

Equitable Holdings Inc. purchased a new position in shares of Enviri Corporation (NYSE:NVRI) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 28,565 shares of the company’s stock, valued at approximately $627,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Baird Financial Group Inc. purchased a new position in shares of Enviri during the 1st quarter worth approximately $93,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 buying an additional 2,028 shares in the last quarter. Empowered Funds LLC grew its holdings in Enviri by 3.1% during the 1st quarter. Empowered Funds LLC now owns 396,638 shares of the company’s stock valued at $2,638,000 after buying an additional 11,762 shares during the last quarter. Jane Street Group LLC grew its holdings in Enviri by 116.0% during the 1st quarter. Jane Street Group LLC now owns 207,329 shares of the company’s stock valued at $1,379,000 after buying an additional 111,359 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Enviri by 14.0% during the second quarter. Envestnet Asset Management Inc. now owns 12,640 shares of the company’s stock worth $110,000 after buying an additional 1,554 shares in the last quarter. 93.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Enviri

In related news, Director Carolann I. Haznedar purchased 4,875 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were bought at an average price of $20.46 per share, for a total transaction of $99,742.50. Following the acquisition, the director directly owned 42,955 shares in the company, valued at $878,859.30. This trade represents a 12.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Peter Francis Minan bought 2,946 shares of Enviri stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average price of $20.27 per share, for a total transaction of $59,715.42. Following the acquisition, the chief financial officer directly owned 97,505 shares of the company’s stock, valued at $1,976,426.35. The trade was a 3.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 16,154 shares of company stock worth $319,868 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

NVRI has been the topic of several recent research reports. BMO Capital Markets upped their price objective on Enviri from $21.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, August 12th. Weiss Ratings upgraded Enviri from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday. Finally, Wall Street Zen raised shares of Enviri to a “hold” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Enviri presently has a consensus rating of “Hold” and a consensus price target of $24.50.

Enviri Stock Performance

NVRI stock opened at $22.34 on Friday. Enviri Corporation has a 52-week low of $10.81 and a 52-week high of $24.20. The stock’s fifty day simple moving average is $22.04 and its 200-day simple moving average is $20.26.

Enviri (NYSE:NVRI) last released its earnings results on Tuesday, August 11th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.32). The company had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $370.97 million. The company’s revenue was down 66.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. Equities research analysts predict that Enviri Corporation will post -1.55 EPS for the current fiscal year.

Enviri Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, June 1st. Investors of record on Friday, January 1st were given a $15.00 dividend. The ex-dividend date of this dividend was Monday, June 1st.

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.