Franklin Resources Inc. Acquires New Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Franklin Resources Inc. acquired a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 31,221 shares of the industrial products company's stock, valued at approximately $459,000. Franklin Resources Inc. owned 0.05% of Energy Recovery at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ERII. HighTower Advisors LLC lifted its stake in shares of Energy Recovery by 10.6% in the third quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company's stock worth $578,000 after buying an additional 3,176 shares in the last quarter. Barclays PLC increased its position in shares of Energy Recovery by 376.6% during the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company's stock valued at $1,681,000 after acquiring an additional 76,393 shares during the last quarter. Geode Capital Management LLC increased its stake in Energy Recovery by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company's stock worth $23,631,000 after buying an additional 56,306 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Energy Recovery by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company's stock valued at $4,780,000 after acquiring an additional 109,847 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Energy Recovery by 1.3% in the fourth quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company's stock valued at $1,859,000 after buying an additional 1,618 shares during the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares in the company, valued at $1,713,300.78. This represents a 16.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the sale, the director now owns 693,182 shares of the company's stock, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $20.75.

Energy Recovery Trading Up 2.5 %

Shares of ERII traded up $0.37 during midday trading on Wednesday, hitting $15.25. The stock had a trading volume of 73,626 shares, compared to its average volume of 402,285. The business has a 50-day simple moving average of $15.45 and a two-hundred day simple moving average of $15.95. The firm has a market cap of $838.06 million, a P/E ratio of 44.85 and a beta of 1.05. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The company had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. On average, analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

About Energy Recovery

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.