KLP Kapitalforvaltning AS acquired a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 317,700 shares of the industrial products company's stock, valued at approximately $4,670,000. KLP Kapitalforvaltning AS owned about 0.55% of Energy Recovery as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in Energy Recovery in the fourth quarter valued at $388,000. Candriam S.C.A. boosted its holdings in Energy Recovery by 7.1% during the fourth quarter. Candriam S.C.A. now owns 162,976 shares of the industrial products company's stock worth $2,396,000 after buying an additional 10,744 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Energy Recovery during the fourth quarter worth about $5,741,000. Charles Schwab Investment Management Inc. increased its holdings in Energy Recovery by 1.5% in 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 in the last quarter. Finally, Keene & Associates Inc. increased its holdings in Energy Recovery by 15.5% in the fourth quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company's stock valued at $479,000 after buying an additional 4,375 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on ERII shares. StockNews.com upgraded Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday. Scotiabank assumed coverage on Energy Recovery in a report on Thursday, December 5th. They issued a "buy" rating and a $22.00 target price on the stock. Finally, Seaport Res Ptn raised Energy Recovery to a "strong-buy" rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $20.75.
View Our Latest Analysis on Energy Recovery
Energy Recovery Price Performance
NASDAQ:ERII traded down $0.23 during trading hours on Friday, reaching $15.95. 272,105 shares of the company traded hands, compared to its average volume of 398,038. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The stock has a market cap of $876.53 million, a P/E ratio of 46.91 and a beta of 1.21. The firm's 50-day moving average is $15.33 and its 200-day moving average is $16.19.
Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 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 for the quarter, compared to analyst estimates of $67.39 million. As a group, research analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.
Insiders Place Their Bets
In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the transaction, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction 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 sale, the director now owns 693,182 shares of the company's stock, valued at approximately $11,326,593.88. The trade was 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 corporate insiders.
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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