Healthcare of Ontario Pension Plan Trust Fund Lowers Position in Enviva Inc. (NYSE:EVA)

Posted by Defense World Staff on Feb 27th, 2023

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Enviva Inc. (NYSE:EVA – Get Rating) by 32.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,101 shares of the energy company’s stock after selling 11,334 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Enviva were worth $1,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EVA. Treasurer of the State of North Carolina lifted its position in shares of Enviva by 1.3% in the third quarter. Treasurer of the State of North Carolina now owns 13,116 shares of the energy company’s stock valued at $788,000 after acquiring an additional 170 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Enviva by 3.6% in the third quarter. Janney Montgomery Scott LLC now owns 5,680 shares of the energy company’s stock valued at $341,000 after acquiring an additional 200 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Enviva by 6.0% in the third quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the energy company’s stock valued at $237,000 after acquiring an additional 224 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Enviva in the first quarter valued at about $26,000. Finally, Raymond James Trust N.A. lifted its position in shares of Enviva by 15.2% in the first quarter. Raymond James Trust N.A. now owns 3,575 shares of the energy company’s stock worth $283,000 after buying an additional 473 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Enviva Stock Performance

EVA opened at $42.40 on Monday. The stock’s 50 day moving average price is $47.90 and its 200-day moving average price is $57.38. Enviva Inc. has a one year low of $41.33 and a one year high of $91.06. The company has a quick ratio of 0.69, a current ratio of 1.09 and a debt-to-equity ratio of 3.95.

Enviva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Tuesday, February 21st were paid a dividend of $0.905 per share. The ex-dividend date was Friday, February 17th. This represents a $3.62 dividend on an annualized basis and a dividend yield of 8.54%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. StockNews.com upgraded Enviva to a “sell” rating in a research report on Thursday, January 26th. Truist Financial decreased their target price on Enviva from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 1st. Finally, Royal Bank of Canada reduced their price objective on Enviva from $76.00 to $63.00 in a research note on Tuesday, November 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Insider Activity

In other Enviva news, Director Jeffrey W. Ubben bought 200,000 shares of the business’s stock in a transaction dated Friday, December 2nd. The shares were purchased at an average price of $55.00 per share, with a total value of $11,000,000.00. Following the completion of the purchase, the director now owns 5,742,439 shares in the company, valued at approximately $315,834,145. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Jeffrey W. Ubben acquired 28,697 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The shares were bought at an average price of $53.25 per share, with a total value of $1,528,115.25. Following the completion of the purchase, the director now directly owns 5,542,439 shares in the company, valued at $295,134,876.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Ubben acquired 200,000 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The stock was purchased at an average cost of $55.00 per share, for a total transaction of $11,000,000.00. Following the purchase, the director now owns 5,742,439 shares of the company’s stock, valued at $315,834,145. The disclosure for this purchase can be found here. Insiders own 13.30% of the company’s stock.

About Enviva

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Enviva, Inc engages in the production, process, and distribution of wood biomass to power generators. It offers wood pellets and wood chips which are used in coal-fired power generation and power plants. The company was founded on November 12, 2013 and is headquartered in Bethesda, MD.