Invesco Ltd. boosted its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 14.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 858,309 shares of the industrial products company's stock after acquiring an additional 107,800 shares during the quarter. Invesco Ltd. owned about 1.48% of Energy Recovery worth $12,617,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Energy Recovery during the 4th quarter valued at approximately $5,741,000. KLP Kapitalforvaltning AS bought a new stake in shares of Energy Recovery in the 4th quarter worth about $4,670,000. Duff & Phelps Investment Management Co. purchased a new stake in Energy Recovery in the 4th quarter worth about $3,798,000. Baillie Gifford & Co. lifted its stake in Energy Recovery by 27.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock worth $16,462,000 after purchasing an additional 243,653 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Energy Recovery in the fourth quarter worth approximately $1,792,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.
Energy Recovery Price Performance
NASDAQ ERII traded down $0.02 during trading on Friday, hitting $15.16. The company's stock had a trading volume of 197,557 shares, compared to its average volume of 405,892. The company has a market cap of $833.17 million, a PE ratio of 44.60 and a beta of 1.05. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The business's 50 day simple moving average is $15.44 and its 200-day simple moving average is $15.93.
Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly 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 net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. Analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, StockNews.com raised shares of Energy Recovery from a "hold" rating to a "buy" rating in a research note on Saturday, March 29th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Energy Recovery currently has a consensus rating of "Buy" and a consensus target price of $20.75.
View Our Latest Stock Report on Energy Recovery
Insider Activity
In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares of the company's stock, valued at $1,713,300.78. This represents a 16.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction that occurred on 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 directly owns 693,182 shares in the company, valued at $11,326,593.88. This represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.
About Energy Recovery
(
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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