Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in Enviri Co. (NYSE:NVRI)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Enviri Co. (NYSE:NVRI) by 19.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,253 shares of the company’s stock after selling 28,846 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Enviri were worth $941,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NVRI. Brightline Capital Management LLC purchased a new stake in Enviri in the third quarter valued at $10,340,000. Mill Road Capital Management LLC purchased a new stake in Enviri in the third quarter valued at $10,167,000. Meros Investment Management LP purchased a new stake in Enviri in the third quarter valued at $2,950,000. JPMorgan Chase & Co. boosted its holdings in Enviri by 111.9% in the third quarter. JPMorgan Chase & Co. now owns 491,650 shares of the company’s stock valued at $5,084,000 after purchasing an additional 259,606 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Enviri by 413.2% in the third quarter. Intech Investment Management LLC now owns 164,836 shares of the company’s stock valued at $1,704,000 after purchasing an additional 132,718 shares during the last quarter. 93.43% of the stock is owned by hedge funds and other institutional investors.

Enviri Trading Down 1.7 %

Shares of Enviri stock opened at $6.76 on Friday. The firm has a 50-day simple moving average of $7.99 and a two-hundred day simple moving average of $8.51. The company has a market cap of $541.84 million, a P/E ratio of -4.25 and a beta of 2.19. Enviri Co. has a fifty-two week low of $5.67 and a fifty-two week high of $12.79. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.99 and a current ratio of 1.25.

Enviri (NYSE:NVRI) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The business had revenue of $558.71 million during the quarter, compared to the consensus estimate of $578.98 million. Enviri had a negative net margin of 5.46% and a negative return on equity of 0.90%. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. As a group, equities analysts predict that Enviri Co. will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Tom George Vadaketh purchased 40,297 shares of Enviri stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average price of $6.20 per share, for a total transaction of $249,841.40. Following the transaction, the chief financial officer now directly owns 132,431 shares in the company, valued at approximately $821,072.20. This trade represents a 43.74 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Russell C. Hochman purchased 40,127 shares of Enviri stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $6.27 per share, with a total value of $251,596.29. Following the transaction, the senior vice president now owns 120,357 shares in the company, valued at approximately $754,638.39. The trade was a 50.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.70% of the company’s stock.

Enviri Company Profile

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.