FIL Ltd Decreases Position in Energy Recovery, Inc. (NASDAQ:ERII)

FIL Ltd lowered its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,084,877 shares of the industrial products company's stock after selling 123,036 shares during the quarter. FIL Ltd owned 3.60% of Energy Recovery worth $30,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company's stock worth $23,631,000 after purchasing an additional 56,306 shares during the last quarter. Barclays PLC grew its position in Energy Recovery by 376.6% during the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company's stock valued at $1,681,000 after buying an additional 76,393 shares during the period. Charles Schwab Investment Management Inc. grew its position in Energy Recovery by 1.5% during the fourth 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 during the period. JPMorgan Chase & Co. raised its position in Energy Recovery by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company's stock worth $4,780,000 after acquiring an additional 109,847 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Energy Recovery by 552.4% in the fourth quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company's stock valued at $1,563,000 after acquiring an additional 90,008 shares during the last quarter. Hedge funds and other institutional investors own 83.58% 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Energy Recovery currently has an average rating of "Buy" and a consensus price target of $20.75.

Energy Recovery Trading Down 0.5 %

Shares of Energy Recovery stock traded down $0.08 on Wednesday, reaching $15.00. The stock had a trading volume of 60,213 shares, compared to its average volume of 401,934. The business's 50 day moving average is $15.45 and its two-hundred day moving average is $16.03. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27. The company has a market cap of $824.33 million, a P/E ratio of 44.12 and a beta of 1.05.

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). The firm had revenue of $67.08 million during the quarter, compared to analysts' expectations of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. On average, equities analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Energy Recovery 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 completion of the sale, the senior vice president now directly owns 111,109 shares in the company, valued at $1,713,300.78. The trade was a 16.18 % decrease in their ownership of the stock. 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 stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the transaction, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. The trade was a 6.73 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

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.