Intech Investment Management LLC acquired a new stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,363 shares of the industrial products company's stock, valued at approximately $388,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avanza Fonder AB acquired a new stake in Energy Recovery during the 4th quarter worth about $107,000. Inspire Investing LLC boosted its stake in shares of Energy Recovery by 14.8% in the fourth quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company's stock worth $409,000 after buying an additional 3,594 shares during the last quarter. Manchester Capital Management LLC grew its holdings in Energy Recovery by 2.9% during the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock worth $429,000 after acquiring an additional 830 shares during the period. Keene & Associates Inc. raised its position in Energy Recovery by 15.5% during the fourth quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company's stock valued at $479,000 after acquiring an additional 4,375 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Energy Recovery by 10.6% in the third quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company's stock valued at $578,000 after acquiring an additional 3,176 shares during the period. Institutional investors and hedge funds own 83.58% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Scotiabank initiated coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They set a "buy" rating and a $22.00 price objective on the stock. Seaport Res Ptn raised shares of Energy Recovery to a "strong-buy" rating in a report on Thursday, December 5th. Finally, StockNews.com upgraded shares of Energy Recovery from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $20.75.
Check Out Our Latest Research Report on Energy Recovery
Energy Recovery Trading Down 1.4 %
ERII traded down $0.23 during midday trading on Friday, hitting $15.95. 272,105 shares of the company traded hands, compared to its average volume of 398,038. The business has a 50 day simple moving average of $15.33 and a two-hundred day simple moving average of $16.19. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The company has a market capitalization of $876.53 million, a price-to-earnings ratio of 46.91 and a beta of 1.21.
Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. Equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.
Insider Buying and Selling
In other news, SVP Rodney Clemente sold 21,444 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the transaction, the senior vice president now 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 legal filing with the SEC, which can be accessed through this link. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
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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