K2 Principal Fund L.P. Makes New $1.49 Million Investment in Enviri Corporation $NVRI

K2 Principal Fund L.P. bought a new position in shares of Enviri Corporation (NYSE:NVRI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 82,987 shares of the company’s stock, valued at approximately $1,487,000. K2 Principal Fund L.P. owned 0.10% of Enviri as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NVRI. Advisory Services Network LLC bought a new stake in Enviri during the third quarter worth approximately $27,000. Torren Management LLC bought a new stake in Enviri during the fourth quarter worth approximately $37,000. BNP Paribas Financial Markets boosted its position in Enviri by 43.8% during the second quarter. BNP Paribas Financial Markets now owns 7,621 shares of the company’s stock worth $66,000 after purchasing an additional 2,322 shares during the period. Baird Financial Group Inc. bought a new stake in Enviri during the first quarter worth approximately $93,000. Finally, Envestnet Asset Management Inc. boosted 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 purchasing an additional 1,554 shares during the period. Institutional investors own 93.43% of the company’s stock.

Enviri Stock Up 1.2%

NVRI opened at $21.39 on Friday. The business has a 50 day moving average of $19.67 and a 200-day moving average of $18.88. 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 stock has a market capitalization of $601.26 million, a price-to-earnings ratio of -10.29 and a beta of 1.59. Enviri Corporation has a 1-year low of $7.70 and a 1-year high of $21.74.

Enviri (NYSE:NVRI) last issued its earnings results on Monday, May 11th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.36. The business 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%.Enviri’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. As a group, sell-side analysts anticipate that Enviri Corporation will post -0.45 earnings per share for the current year.

Enviri Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Enviri in a research report on Tuesday, April 21st. Wall Street Zen raised Enviri to a “hold” rating in a research report on Saturday. Lake Street Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Enviri in a research report on Wednesday, February 25th. Finally, BMO Capital Markets increased their price objective on Enviri from $19.00 to $19.50 and gave the company a “market perform” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Enviri presently has a consensus rating of “Hold” and an average price target of $22.25.

Insider Activity at Enviri

In other news, CFO Peter Francis Minan bought 8,333 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.