Duff & Phelps Investment Management Co. Makes New $3.80 Million Investment in Energy Recovery, Inc. (NASDAQ:ERII)

Duff & Phelps Investment Management Co. purchased a new stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 258,376 shares of the industrial products company's stock, valued at approximately $3,798,000. Duff & Phelps Investment Management Co. owned about 0.45% of Energy Recovery at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ERII. EntryPoint Capital LLC acquired a new position in shares of Energy Recovery in the fourth quarter worth $579,000. Vanguard Group Inc. increased its position in Energy Recovery by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company's stock worth $47,810,000 after purchasing an additional 43,290 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Energy Recovery in the 4th quarter valued at about $305,000. KLP Kapitalforvaltning AS purchased a new position in Energy Recovery in the 4th quarter valued at about $4,670,000. Finally, Intech Investment Management LLC purchased a new position in Energy Recovery in the 4th quarter valued at about $388,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 in the company, valued at approximately $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rodney Clemente sold 21,444 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was 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 owned by corporate insiders.

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Energy Recovery Trading Up 0.4 %

NASDAQ:ERII traded up $0.07 on Tuesday, hitting $15.96. 122,773 shares of the stock were exchanged, compared to its average volume of 397,181. The stock has a fifty day moving average of $15.35 and a 200-day moving average of $16.20. The stock has a market cap of $876.81 million, a PE ratio of 46.85 and a beta of 1.21. 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 posted its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. As a group, analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Seaport Res Ptn raised shares of Energy Recovery to a "strong-buy" rating in a research report on Thursday, December 5th. StockNews.com raised Energy Recovery from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Scotiabank began coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a "buy" rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Energy Recovery presently has an average rating of "Buy" and an average price target 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.