SCHEDULE 13D/A: Neuberger Berman Increases Stake in ENVIRI Corp to 7.8% Through Strategic Purchases

Neuberger Berman Group LLC and its affiliated entities have significantly increased their beneficial ownership in ENVIRI Corp, now holding an aggregate of 7.8% of the common stock.

Summary

• Neuberger Berman Group LLC and its affiliated entities, including Neuberger Berman Investment Advisers LLC and Neuberger Berman Canada ULC, along with three individuals, collectively known as the Reporting Persons, have filed an Amendment No. 2 to Schedule 13D.
• The Reporting Persons now beneficially own an aggregate of 6,242,821 shares of ENVIRI Corp's common stock, representing 7.8% of the 80,197,777 common shares outstanding as of December 31, 2024.
• Neuberger Berman Group LLC holds 7.0% (5,571,170 shares), Neuberger Berman Investment Advisers LLC holds 6.7% (5,334,129 shares), and Neuberger Berman Canada ULC holds 0.3% (237,041 shares).
• Individual reporting persons Benjamin Nahum, Michael Greene, and Rand Gesing hold 0.5% (425,000 shares), 0.2% (116,700 shares), and 0.2% (129,951 shares) respectively.
• Approximately $5,352,438.422 of funds from investment advisory client accounts were used to purchase Securities since the Reporting Persons' most recent Schedule 13D filing.
• Transactions during the past sixty days show a mix of selling at higher prices and significant buying at lower prices by Neuberger Berman Investment Advisers LLC and Neuberger Berman Canada ULC.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to a significant increase in beneficial ownership by a major investment firm, suggesting a strategic accumulation of shares. While there was selling activity at higher prices, the net effect is an increased stake.

Positives

• Neuberger Berman Group LLC, a prominent investment firm, has increased its aggregate beneficial ownership in ENVIRI Corp to 7.8%, indicating increased confidence or strategic interest.
• The Reporting Persons utilized approximately $5,352,438.422 of client funds for recent purchases, demonstrating active investment in the company.
• Analysis of recent transactions shows substantial buying activity by Neuberger Berman Investment Advisers LLC and Neuberger Berman Canada ULC in February and March 2025, often at lower average prices, suggesting a strategy to accumulate shares during price dips.

Negatives

• Neuberger Berman Investment Advisers LLC engaged in significant selling activity throughout January and early February 2025, at average prices ranging from $9.624 down to $6.8510, which could indicate profit-taking or a re-evaluation of position at higher valuations.

Future Outlook

NA

Industry Context

This filing primarily details a change in beneficial ownership by an investment firm and does not provide specific insights into broader industry trends or the competitive landscape of ENVIRI Corp's operations.

Legal Proceedings

• None of the Reporting Persons, nor to their knowledge, any of the individuals referenced (directors and executive officers of Neuberger Entities), have been convicted in a criminal proceeding in the past five years.
• None of the Reporting Persons, nor to their knowledge, any of the individuals referenced, have been party to a civil proceeding or a judicial or administrative proceeding or subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws in the past five years.

Stakeholder Impact

• Shareholders: Increased institutional ownership by Neuberger Berman could lead to greater scrutiny of company performance and potentially influence corporate governance decisions. It may also be perceived as a vote of confidence, potentially attracting other investors.

Key Dates

Keywords

ENVIRI Corp, Neuberger Berman, Schedule 13D, Beneficial Ownership, Institutional Investment, Common Stock, Investment Advisers, SEC Filing