Avenir Corp decreased its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,131,373 shares of the industrial products company's stock after selling 96,967 shares during the quarter. Energy Recovery comprises about 1.7% of Avenir Corp's portfolio, making the stock its 16th biggest holding. Avenir Corp owned about 1.95% of Energy Recovery worth $16,631,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Energy Recovery during the 4th quarter worth about $2,611,000. Barclays PLC lifted its position in shares of Energy Recovery by 10.5% in the fourth quarter. Barclays PLC now owns 106,815 shares of the industrial products company's stock valued at $1,570,000 after buying an additional 10,138 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Energy Recovery during the 4th quarter worth approximately $5,741,000. Renaissance Technologies LLC bought a new stake in Energy Recovery in the 4th quarter valued at $2,799,000. Finally, Invesco Ltd. boosted its position in Energy Recovery by 14.4% during the fourth quarter. Invesco Ltd. now owns 858,309 shares of the industrial products company's stock worth $12,617,000 after purchasing an additional 107,800 shares during the period. Institutional investors own 83.58% of the company's stock.
Insider Transactions at Energy Recovery
In related news, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction that occurred 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 sale, the senior vice president now directly owns 111,109 shares of the company's stock, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now owns 693,182 shares in the company, valued at $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.
Energy Recovery Trading Up 2.3 %
Energy Recovery stock traded up $0.33 during trading hours on Tuesday, reaching $14.96. 71,740 shares of the stock were exchanged, compared to its average volume of 402,088. The stock has a 50 day moving average of $15.45 and a two-hundred day moving average of $15.96. The company has a market cap of $822.13 million, a P/E ratio of 44.01 and a beta of 1.05. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $20.27.
Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $67.08 million during the quarter, compared to the consensus estimate of $67.39 million. On average, analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $20.75.
View Our Latest Analysis on Energy Recovery
Energy Recovery Profile
(
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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