Enviri (NYSE:NVRI) Sets New 1-Year High – Still a Buy?

Enviri Corporation (NYSE:NVRI)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $21.46 and last traded at $20.8350, with a volume of 34125 shares trading hands. The stock had previously closed at $21.13.

Wall Street Analysts Forecast Growth

NVRI has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on Enviri from $19.00 to $19.50 and gave the company a “market perform” rating in a report on Tuesday, May 12th. Lake Street Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Enviri in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Enviri in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Enviri currently has a consensus rating of “Hold” and a consensus target price of $22.25.

Enviri Price Performance

The company has a market capitalization of $594.82 million, a P/E ratio of -10.18 and a beta of 1.59. The company has a fifty day moving average price of $19.63 and a 200 day moving average price of $18.86. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.13 and a quick ratio of 0.86.

Enviri (NYSE:NVRI) last posted its earnings results on Monday, May 11th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 return on equity of 8.59% and a negative net margin of 7.50%.The business’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.18) earnings per share. On average, sell-side analysts forecast that Enviri Corporation will post -0.45 EPS for the current fiscal year.

Enviri Dividend Announcement

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

Insider Activity at Enviri

In related news, CFO Peter Francis Minan bought 8,333 shares of the stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $19.25 per share, with a total value of $160,410.25. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Enviri

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pertento Partners LLP acquired a new position in shares of Enviri during the third quarter worth approximately $43,542,000. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 7,203 shares during the period. Newtyn Management LLC boosted its position in shares of 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 buying an additional 691,949 shares during the period. Davidson Kempner Capital Management LP acquired a new position in shares of Enviri during the third quarter worth approximately $21,367,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 buying an additional 140,634 shares during the period. 93.43% of the stock is currently owned by institutional investors and hedge funds.

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.