Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lowered its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 16.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,606,982 shares of the industrial products company's stock after selling 314,027 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 2.78% of Energy Recovery worth $23,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Energy Recovery by 4.3% in 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 acquiring an additional 56,306 shares in the last quarter. KBC Group NV increased its holdings in Energy Recovery by 0.4% in the 4th quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company's stock worth $18,270,000 after acquiring an additional 4,670 shares in the last quarter. Alpha Wave Global LP grew its holdings in Energy Recovery by 93.0% during the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company's stock valued at $20,374,000 after buying an additional 564,463 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Energy Recovery by 27.8% during the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock valued at $16,462,000 after buying an additional 243,653 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Energy Recovery by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company's stock valued at $6,989,000 after buying an additional 6,834 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company's stock.

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Energy Recovery Stock Performance

ERII traded up $0.36 on Tuesday, hitting $16.16. The company had a trading volume of 581,429 shares, compared to its average volume of 381,772. The stock has a fifty day moving average price of $14.98 and a 200-day moving average price of $16.14. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27. The stock has a market capitalization of $888.07 million, a price-to-earnings ratio of 47.53 and a beta of 1.21.

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 (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $67.08 million during the quarter, compared to analysts' expectations of $67.39 million. Analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the firm's 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 owns 111,109 shares of the company's stock, valued at approximately $1,713,300.78. This trade 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 can be accessed through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the firm's 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 directly owns 693,182 shares of the company's stock, valued at approximately $11,326,593.88. This represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. B. Riley cut their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Scotiabank began coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a "buy" rating and a $22.00 price target for the company. Evercore ISI reduced their target price on Energy Recovery from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. Finally, Seaport Res Ptn upgraded Energy Recovery to a "strong-buy" rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $20.75.

Energy Recovery Company 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.