Enviri (NYSE:NVRI) Hits New 1-Year High on Strong Earnings

Shares of Enviri Corporation (NYSE:NVRI) hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $24.39 and last traded at $24.2150, with a volume of 161,308 shares changing hands. The stock had previously closed at $23.36.

The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.38. The business had revenue of $325.03 million during the quarter, compared to the consensus estimate of $317.13 million. The firm’s revenue for the quarter was down 43.5% on a year-over-year basis.

Analysts Set New Price Targets

NVRI has been the subject of several analyst reports. BMO Capital Markets raised their price objective on Enviri from $21.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. Weiss Ratings downgraded Enviri from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, October 14th. Finally, Wall Street Zen lowered Enviri from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.

Insider Transactions at Enviri

In other news, CFO Peter Minan acquired 2,946 shares of Enviri stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average cost of $20.27 per share, with a total value of $59,715.42. Following the transaction, the chief financial officer directly owned 97,505 shares of the company’s stock, valued at $1,976,426.35. This trade represents a 3.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Carolann I. Haznedar acquired 4,875 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was purchased at an average cost of $20.46 per share, with a total value of $99,742.50. Following the purchase, the director owned 42,955 shares of the company’s stock, valued at $878,859.30. The trade was a 12.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enviri

Several hedge funds and other institutional investors have recently modified their holdings of NVRI. Bleakley Financial Group LLC lifted its position in shares of Enviri by 3.4% during the first quarter. Bleakley Financial Group LLC now owns 16,380 shares of the company’s stock worth $321,000 after purchasing an additional 531 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Enviri during the second quarter valued at $25,000. Rockefeller Capital Management L.P. grew its holdings in shares of Enviri by 204.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,882 shares of the company’s stock worth $34,000 after purchasing an additional 1,264 shares during the last quarter. KBC Group NV bought a new position in shares of Enviri in the first quarter worth about $31,000. Finally, State of Wyoming bought a new position in shares of Enviri in the second quarter worth about $46,000. 93.43% of the stock is currently owned by hedge funds and other institutional investors.

Enviri Stock Up 3.2%

The company has a market cap of $679.52 million and a PE ratio of -38.26. The company’s 50 day moving average is $20.47 and its 200 day moving average is $20.19. The company has a current ratio of 1.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.

About Enviri

Enviri Corporation (NYSE: NVRI) is an environmental solutions company that provides services and products designed to help industrial, commercial and government customers manage waste, recover materials and improve resource efficiency. The company serves customers in multiple regions, with operations spanning North America, Europe and other international markets.

Enviri’s Harsco Environmental business provides environmental services to the global steel industry. Its activities include the processing and beneficial reuse of steel slag and other byproducts, metal recovery, slag handling, site services and the production of mineral-based products used in areas such as construction and infrastructure.

Through its Clean Earth business, Enviri manages hazardous and non-hazardous waste streams for industrial, healthcare, pharmaceutical, retail and government customers.