Louisiana State Employees Retirement System Buys New Stake in Enviri Corporation $NVRI

Louisiana State Employees Retirement System acquired a new position in Enviri Corporation (NYSE:NVRI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,800 shares of the company’s stock, valued at approximately $702,000.

Several other hedge funds also recently modified their holdings of NVRI. Baird Financial Group Inc. acquired a new position in Enviri during the first quarter worth about $93,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 acquiring an additional 2,028 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Enviri by 3.1% in the first quarter. Empowered Funds LLC now owns 396,638 shares of the company’s stock worth $2,638,000 after buying an additional 11,762 shares during the period. Jane Street Group LLC grew its stake 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 acquiring an additional 111,359 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew 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 valued at $110,000 after purchasing an additional 1,554 shares in the last quarter. 93.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Enviri in a report on Tuesday, April 21st. BMO Capital Markets lifted their price objective on Enviri from $19.00 to $19.50 and gave the stock a “market perform” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen upgraded 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 issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Enviri has a consensus rating of “Hold” and an average target price of $22.25.

Enviri Trading Down 0.1%

Shares of NYSE:NVRI traded down $0.02 during trading on Tuesday, reaching $23.08. 6,069 shares of the company traded hands, compared to its average volume of 1,411,840. The firm has a market capitalization of $648.64 million, a price-to-earnings ratio of -11.05 and a beta of 1.59. Enviri Corporation has a 52-week low of $7.70 and a 52-week high of $23.56. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 5.66. The business’s fifty day moving average is $20.41 and its 200-day moving average is $19.30.

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

Enviri Announces Dividend

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

Insider Transactions at Enviri

In related news, CFO Peter Francis Minan acquired 8,333 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $19.25 per share, for a total transaction of $160,410.25. Following the acquisition, the chief financial officer owned 16,434 shares of the company’s stock, valued at $316,354.50. This trade represents a 102.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.50% of the company’s stock.

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.