Connor Clark & Lunn Investment Management Ltd. Has $1.56 Million Stock Position in Enviri Co. (NYSE:NVRI)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Enviri Co. (NYSE:NVRI) by 27.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,099 shares of the company’s stock after selling 57,852 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Enviri were worth $1,562,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Paradigm Capital Management Inc. NY lifted its stake in shares of Enviri by 3.5% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,908,400 shares of the company’s stock worth $33,729,000 after buying an additional 132,000 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Enviri by 11.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,823,704 shares of the company’s stock worth $32,999,000 after acquiring an additional 383,395 shares during the period. Creative Planning lifted its position in Enviri by 36.2% during the 3rd quarter. Creative Planning now owns 31,003 shares of the company’s stock worth $321,000 after acquiring an additional 8,242 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Enviri by 6.3% during the second quarter. Panagora Asset Management Inc. now owns 439,925 shares of the company’s stock valued at $3,797,000 after acquiring an additional 26,129 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Enviri in the second quarter valued at about $1,124,000. 93.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets decreased 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.

Enviri Stock Performance

NYSE NVRI opened at $7.52 on Wednesday. The company’s fifty day moving average is $9.15 and its two-hundred day moving average is $9.52. Enviri Co. has a 52-week low of $5.65 and a 52-week high of $12.79. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.30 and a quick ratio of 0.99. The firm has a market capitalization of $602.25 million, a price-to-earnings ratio of -6.06 and a beta of 2.22.

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 the consensus estimate of $0.07 by ($0.08). The firm had revenue of $573.60 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.05 earnings per share. Equities research analysts forecast that Enviri Co. will post -0.11 EPS for the current year.

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.