Bank of Montreal Can Boosts Position in Energy Recovery, Inc. (NASDAQ:ERII)

Bank of Montreal Can increased its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 99.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 49,358 shares of the industrial products company's stock after buying an additional 24,555 shares during the period. Bank of Montreal Can owned about 0.09% of Energy Recovery worth $726,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Avanza Fonder AB bought a new position in shares of Energy Recovery in the fourth quarter worth about $107,000. Schroder Investment Management Group purchased a new stake in Energy Recovery during the 4th quarter valued at approximately $160,000. Polymer Capital Management US LLC purchased a new stake in Energy Recovery during the 4th quarter valued at approximately $211,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Energy Recovery during the fourth quarter valued at approximately $234,000. Finally, Martin Currie Ltd. lifted its holdings in shares of Energy Recovery by 53.7% in the fourth quarter. Martin Currie Ltd. now owns 18,305 shares of the industrial products company's stock worth $269,000 after buying an additional 6,394 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company's stock.

Energy Recovery Stock Down 1.1 %

Energy Recovery stock traded down $0.17 during mid-day trading on Friday, reaching $15.02. 51,868 shares of the company's stock traded hands, compared to its average volume of 405,258. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27. The stock has a 50 day moving average of $15.44 and a two-hundred day moving average of $15.93. The company has a market cap of $825.15 million, a price-to-earnings ratio of 44.15 and a beta of 1.05.

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

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now owns 693,182 shares in the company, valued at $11,326,593.88. The trade was a 6.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction 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 approximately $1,713,300.78. This represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Energy Recovery presently has a consensus rating of "Buy" and an average target price of $20.75.

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.