BNP Paribas Financial Markets reduced its holdings in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 49.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,261 shares of the industrial products company's stock after selling 38,542 shares during the quarter. BNP Paribas Financial Markets owned about 0.07% of Energy Recovery worth $683,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Energy Recovery by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,756 shares of the industrial products company's stock valued at $470,000 after purchasing an additional 2,018 shares during the period. Assenagon Asset Management S.A. raised its stake in Energy Recovery by 13.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 178,451 shares of the industrial products company's stock worth $2,372,000 after buying an additional 21,596 shares during the period. Raymond James & Associates raised its stake in Energy Recovery by 15.0% during the 2nd quarter. Raymond James & Associates now owns 409,623 shares of the industrial products company's stock worth $5,444,000 after buying an additional 53,330 shares during the period. Bank of New York Mellon Corp boosted its holdings in Energy Recovery by 13.0% in the second quarter. Bank of New York Mellon Corp now owns 205,786 shares of the industrial products company's stock worth $2,735,000 after acquiring an additional 23,660 shares in the last quarter. Finally, Conestoga Capital Advisors LLC acquired a new stake in Energy Recovery in the second quarter valued at approximately $1,192,000. 83.58% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Energy Recovery
In other Energy Recovery news, SVP Rodney Clemente sold 4,207 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $20.06, for a total transaction of $84,392.42. Following the completion of the transaction, the senior vice president now directly owns 106,367 shares of the company's stock, valued at approximately $2,133,722.02. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David W. Moon sold 2,550 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the sale, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,406 shares of company stock valued at $828,688. 4.10% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on ERII shares. Scotiabank assumed coverage on Energy Recovery in a research report on Thursday, December 5th. They set a "buy" rating and a $22.00 target price on the stock. B. Riley lowered their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, November 19th. Seaport Res Ptn upgraded shares of Energy Recovery to a "strong-buy" rating in a report on Thursday, December 5th. Fearnley Fonds lowered shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, Evercore ISI dropped their price target on shares of Energy Recovery from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $20.75.
Read Our Latest Stock Report on ERII
Energy Recovery Price Performance
Shares of NASDAQ ERII traded down $0.31 during trading on Friday, hitting $16.11. The stock had a trading volume of 208,229 shares, compared to its average volume of 435,264. The firm has a fifty day moving average of $17.52 and a two-hundred day moving average of $15.93. The company has a market capitalization of $932.61 million, a PE ratio of 48.29 and a beta of 1.18. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27.
Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 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 $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. During the same period in the prior year, the firm posted $0.17 EPS. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts expect that Energy Recovery, Inc. will post 0.39 earnings per share for the current fiscal year.
Energy Recovery Profile
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Free Report)
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.
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