PDT Partners LLC Boosts Stock Position in Enviri Co. (NYSE:NVRI)

PDT Partners LLC raised its stake in shares of Enviri Co. (NYSE:NVRI) by 13.9% in the third quarter, Holdings Channel reports. The institutional investor owned 70,918 shares of the company’s stock after buying an additional 8,632 shares during the quarter. PDT Partners LLC’s holdings in Enviri were worth $733,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in shares of Enviri in the 2nd quarter worth about $26,000. CWM LLC raised its holdings in Enviri by 137.6% in the second quarter. CWM LLC now owns 4,130 shares of the company’s stock worth $36,000 after buying an additional 2,392 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Enviri during the first quarter valued at approximately $70,000. FMR LLC increased its position in shares of Enviri by 34.4% during the third quarter. FMR LLC now owns 7,069 shares of the company’s stock valued at $73,000 after acquiring an additional 1,809 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Enviri in the 3rd quarter worth approximately $127,000. 93.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Enviri Price Performance

NVRI opened at $7.61 on Tuesday. The company’s 50-day simple moving average is $8.85 and its two-hundred day simple moving average is $9.49. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.99 and a current ratio of 1.30. The stock has a market capitalization of $609.83 million, a P/E ratio of -6.19 and a beta of 2.22. Enviri Co. has a 52-week low of $6.28 and a 52-week high of $12.79.

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

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.