Alliancebernstein L.P. Reduces Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Alliancebernstein L.P. decreased its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,685 shares of the industrial products company's stock after selling 30,927 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of Energy Recovery worth $995,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ERII. Manchester Capital Management LLC boosted its holdings in Energy Recovery by 2.9% in the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 830 shares during the period. DnB Asset Management AS lifted its holdings in shares of Energy Recovery by 2.9% during the 4th quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company's stock worth $550,000 after acquiring an additional 1,050 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Energy Recovery by 1.3% during the 4th quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company's stock worth $1,859,000 after acquiring an additional 1,618 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Energy Recovery by 1.9% during the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company's stock worth $1,440,000 after acquiring an additional 1,808 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Energy Recovery by 10.6% during the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company's stock worth $578,000 after acquiring an additional 3,176 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Energy Recovery from a "hold" rating to a "buy" rating in a research report on Saturday, March 29th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $20.75.

Insider Activity at Energy Recovery

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

Energy Recovery Stock Up 1.7 %

Shares of Energy Recovery stock traded up $0.25 on Thursday, reaching $15.01. The company's stock had a trading volume of 75,240 shares, compared to its average volume of 358,476. The company has a market capitalization of $824.87 million, a price-to-earnings ratio of 44.16 and a beta of 1.05. The firm's fifty day simple moving average is $15.44 and its two-hundred day simple moving average is $15.95. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $20.27.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business had revenue of $67.08 million during the quarter, compared to analysts' expectations of $67.39 million. As a group, research analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Energy Recovery Profile

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.