UniSuper Management Pty Ltd Sells 75,000 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

UniSuper Management Pty Ltd decreased its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 594,118 shares of the industrial products company's stock after selling 75,000 shares during the period. UniSuper Management Pty Ltd owned about 1.03% of Energy Recovery worth $8,734,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ERII. Manchester Capital Management LLC lifted its stake in shares of Energy Recovery by 2.9% in the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock valued at $429,000 after acquiring an additional 830 shares during the last quarter. Nordea Investment Management AB raised its position in Energy Recovery by 1.3% in the fourth quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company's stock valued at $1,859,000 after purchasing an additional 1,618 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Energy Recovery by 1.9% during the fourth quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company's stock valued at $1,440,000 after purchasing an additional 1,808 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Energy Recovery by 10.6% during the third quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company's stock worth $578,000 after purchasing an additional 3,176 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Energy Recovery by 14.8% during the fourth quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company's stock worth $409,000 after purchasing an additional 3,594 shares during the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

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Insider Buying and Selling

In other news, Director Arve Hanstveit sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the sale, the director now owns 693,182 shares of the company's stock, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Rodney Clemente sold 21,444 shares of the business's stock in a transaction on 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 in the company, valued at $1,713,300.78. The trade was a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on ERII. Scotiabank started coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They set a "buy" rating and a $22.00 target price on the stock. StockNews.com upgraded shares of Energy Recovery from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Seaport Res Ptn upgraded Energy Recovery to a "strong-buy" rating in a report on Thursday, December 5th. One 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 stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $20.75.

Energy Recovery Stock Performance

Shares of NASDAQ ERII traded down $0.03 during midday trading on Tuesday, reaching $15.86. The stock had a trading volume of 104,675 shares, compared to its average volume of 397,028. The company's 50 day moving average price is $15.35 and its 200 day moving average price is $16.20. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $20.27. The firm has a market cap of $871.59 million, a price-to-earnings ratio of 46.56 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII - Get Free Report) last released its earnings results 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 net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. Equities analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Energy Recovery Profile

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.