Charles Schwab Investment Management Inc. Lowers Stake in Innovex International, Inc. (NYSE:INVX)

Charles Schwab Investment Management Inc. lessened its stake in Innovex International, Inc. (NYSE:INVX - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent 13F 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 period. Charles Schwab Investment Management Inc. owned about 0.51% of Innovex International worth $4,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of INVX. Central Pacific Bank Trust Division bought a new stake in Innovex International in the fourth quarter valued at approximately $63,000. Oregon Public Employees Retirement Fund raised its holdings in Innovex International by 9.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company's stock valued at $124,000 after buying an additional 758 shares during the last quarter. Amalgamated Bank boosted its position in Innovex International by 6.2% during 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 period. D.A. Davidson & CO. purchased a new stake in Innovex International during the 4th quarter valued at $193,000. Finally, Moody National Bank Trust Division bought a new stake in Innovex International in the 4th quarter worth $234,000.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Innovex International from $15.00 to $16.00 and gave the company an "underweight" rating in a research note on Wednesday, March 5th. Pickering Energy Partners upgraded Innovex International from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th.

Innovex International Price Performance

Innovex International stock traded down $0.23 during mid-day trading on Friday, reaching $17.92. 236,887 shares of the company traded hands, compared to its average volume of 402,729. 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 $24.09. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 12.71 and a beta of 0.83. The stock's 50 day moving average price is $17.22.

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

About Innovex International

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.