Charles Schwab Investment Management Inc. Trims Stock Position in Innovex International, Inc. (NYSE:INVX)

Charles Schwab Investment Management Inc. reduced its stake in Innovex International, Inc. (NYSE:INVX) by 20.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 344,789 shares of the company’s stock after selling 88,305 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.51% of Innovex International worth $4,817,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Amalgamated Bank grew its position in Innovex International by 6.2% in the 4th quarter. Amalgamated Bank now owns 10,853 shares of the company’s stock valued at $152,000 after buying an additional 630 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Innovex International by 9.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company’s stock worth $124,000 after acquiring an additional 758 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Innovex International by 5.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 20,878 shares of the company’s stock valued at $292,000 after acquiring an additional 1,149 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Innovex International by 9.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the company’s stock worth $254,000 after acquiring an additional 1,500 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in Innovex International by 8.9% during the fourth quarter. State of Alaska Department of Revenue now owns 21,402 shares of the company’s stock worth $298,000 after purchasing an additional 1,741 shares in the last quarter.

Innovex International Price Performance

Shares of INVX opened at $18.07 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17. Innovex International, Inc. has a 52-week low of $12.54 and a 52-week high of $25.05. The company has a 50-day moving average of $17.14. The stock has a market cap of $1.25 billion, a P/E ratio of 12.82 and a beta of 0.83.

Innovex International (NYSE:INVX) last issued its earnings results on Tuesday, February 25th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The company had revenue of $250.69 million during the quarter. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on INVX. Barclays lifted their price objective on Innovex International from $15.00 to $16.00 and gave the company an “underweight” rating in a report on Wednesday, March 5th. Pickering Energy Partners upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th.

Innovex International Company Profile

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.