KBC Group NV lifted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 14.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,238,219 shares of the industrial products company's stock after acquiring an additional 153,381 shares during the quarter. KBC Group NV owned 2.14% of Energy Recovery worth $21,533,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new stake in shares of Energy Recovery in the second quarter valued at about $26,000. CWM LLC lifted its stake in Energy Recovery by 5,032.5% in the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company's stock valued at $74,000 after buying an additional 4,177 shares in the last quarter. AXA S.A. acquired a new stake in Energy Recovery during the 2nd quarter valued at $149,000. ProShare Advisors LLC acquired a new stake in Energy Recovery during the 1st quarter valued at $158,000. Finally, AQR Capital Management LLC increased its position in Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company's stock worth $159,000 after buying an additional 1,986 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.
Energy Recovery Stock Performance
Energy Recovery stock traded down $0.25 during trading on Friday, hitting $18.75. The company's stock had a trading volume of 331,169 shares, compared to its average volume of 408,889. The stock's fifty day moving average is $17.78 and its 200 day moving average is $15.66. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 55.15 and a beta of 1.22.
Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, beating 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 company had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. During the same quarter in the prior year, the company posted $0.17 EPS. The company's quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that Energy Recovery, Inc. will post 0.41 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO David W. Moon sold 2,550 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the sale, the chief executive officer now owns 87,101 shares of the company's stock, valued at approximately $1,565,204.97. This represents a 2.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rodney Clemente sold 6,505 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the completion of the transaction, the senior vice president now owns 133,823 shares in the company, valued at $2,406,137.54. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,406 shares of company stock valued at $828,688. Insiders own 4.10% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. StockNews.com upgraded Energy Recovery from a "sell" rating to a "hold" rating in a research report on Thursday, August 1st. Fearnley Fonds lowered shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th.
Check Out Our Latest Stock Report on Energy Recovery
Energy Recovery Company 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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