Empowered Funds LLC Acquires 20,368 Shares of Enviri Co. (NYSE:NVRI)

Empowered Funds LLC lifted its holdings in shares of Enviri Co. (NYSE:NVRI) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 399,589 shares of the company’s stock after acquiring an additional 20,368 shares during the quarter. Empowered Funds LLC owned approximately 0.50% of Enviri worth $4,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Natixis Advisors LLC raised its holdings in Enviri by 3.4% in the 2nd quarter. Natixis Advisors LLC now owns 31,334 shares of the company’s stock worth $270,000 after purchasing an additional 1,036 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in Enviri by 0.3% in the third quarter. Essex Investment Management Co. LLC now owns 388,870 shares of the company’s stock worth $4,021,000 after buying an additional 1,056 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Enviri by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,034 shares of the company’s stock worth $268,000 after buying an additional 1,273 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Enviri by 10.1% in the second quarter. Hsbc Holdings PLC now owns 15,174 shares of the company’s stock worth $130,000 after buying an additional 1,397 shares during the period. Finally, CWM LLC boosted its position in Enviri by 37.1% during the 3rd quarter. CWM LLC now owns 5,662 shares of the company’s stock valued at $59,000 after acquiring an additional 1,532 shares in the last quarter. Hedge funds and other institutional investors own 93.43% of the company’s stock.

Enviri Stock Performance

Shares of Enviri stock opened at $6.85 on Monday. The business has a fifty day simple moving average of $9.48 and a two-hundred day simple moving average of $9.54. The firm has a market capitalization of $548.96 million, a P/E ratio of -5.57 and a beta of 2.22. The company has a current ratio of 1.30, a quick ratio of 0.99 and a debt-to-equity ratio of 2.72. Enviri Co. has a 12 month low of $5.64 and a 12 month high of $12.79.

Enviri (NYSE:NVRI) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The business had revenue of $573.60 million for the quarter, compared to analysts’ expectations of $613.63 million. Enviri had a negative net margin of 4.28% and a negative return on equity of 1.25%. The company’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $0.05 earnings per share. On average, equities analysts forecast that Enviri Co. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets lowered their target price on Enviri from $13.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday, November 1st.

About Enviri

Enviri Corporation provides environmental solutions for industrial and specialty waste streams in the United States and internationally. The company operates through two segments: Harsco Environmental and Clean Earth. The Harsco Environmental segment offers on-site services under long-term contracts for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and meltshop and furnace services, such as under-vessel cleaning, removal of ladle slag, and general melt shop debris.