Brown Capital Management LLC Buys 1,711,129 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Brown Capital Management LLC increased its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 64.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,356,963 shares of the industrial products company's stock after acquiring an additional 1,711,129 shares during the quarter. Energy Recovery makes up 1.2% of Brown Capital Management LLC's holdings, making the stock its 28th largest holding. Brown Capital Management LLC owned about 7.71% of Energy Recovery worth $82,085,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC lifted its position in Energy Recovery by 376.4% in the 3rd quarter. FMR LLC now owns 3,910,978 shares of the industrial products company's stock worth $82,952,000 after buying an additional 3,090,086 shares in the last quarter. Vanguard Group Inc. increased its holdings in Energy Recovery by 1.5% in the third quarter. Vanguard Group Inc. now owns 2,893,124 shares of the industrial products company's stock worth $61,363,000 after buying an additional 41,967 shares during the last quarter. Avenir Corp raised its position in Energy Recovery by 3.9% during the third quarter. Avenir Corp now owns 1,780,540 shares of the industrial products company's stock valued at $37,765,000 after acquiring an additional 67,184 shares in the last quarter. KBC Group NV grew its position in Energy Recovery by 17.2% in the fourth quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company's stock worth $20,458,000 after acquiring an additional 159,143 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Energy Recovery by 4.6% during the 3rd quarter. Invesco Ltd. now owns 891,312 shares of the industrial products company's stock valued at $18,905,000 after purchasing an additional 39,310 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com cut Energy Recovery from a "hold" rating to a "sell" rating in a research report on Friday, May 3rd. Evercore ISI decreased their price target on shares of Energy Recovery from $26.00 to $24.00 and set an "outperform" rating for the company in a report on Wednesday, February 28th.

Insider Transactions at Energy Recovery

In related news, Director Arve Hanstveit sold 35,000 shares of the firm's stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $13.53, for a total transaction of $473,550.00. Following the completion of the sale, the director now directly owns 772,055 shares of the company's stock, valued at approximately $10,445,904.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Joshua Ballard sold 4,051 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $13.54, for a total transaction of $54,850.54. Following the sale, the chief financial officer now directly owns 40,376 shares of the company's stock, valued at $546,691.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arve Hanstveit sold 35,000 shares of the business's stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $13.53, for a total transaction of $473,550.00. Following the completion of the transaction, the director now owns 772,055 shares of the company's stock, valued at approximately $10,445,904.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,096 shares of company stock valued at $1,084,084. Corporate insiders own 4.10% of the company's stock.

Energy Recovery Stock Down 3.1 %

NASDAQ:ERII traded down $0.43 during trading hours on Thursday, reaching $13.44. The company had a trading volume of 197,443 shares, compared to its average volume of 442,616. The firm has a market capitalization of $770.52 million, a PE ratio of 39.47 and a beta of 1.25. The stock has a 50-day moving average of $13.88 and a two-hundred day moving average of $15.71. Energy Recovery, Inc. has a one year low of $12.45 and a one year high of $30.76.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its earnings results on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. Energy Recovery had a net margin of 15.38% and a return on equity of 9.82%. The business had revenue of $12.09 million for the quarter, compared to analyst estimates of $12.49 million. As a group, sell-side analysts expect that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

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.