Energy Recovery, Inc. (NASDAQ:ERII) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 13.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 276,911 shares of the industrial products company's stock after selling 43,617 shares during the period. Wellington Management Group LLP owned about 0.48% of Energy Recovery worth $4,815,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in shares of Energy Recovery in the 2nd quarter valued at approximately $26,000. CWM LLC raised its stake in shares of 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 acquiring an additional 4,177 shares during the period. AXA S.A. acquired a new position in shares of Energy Recovery in the second quarter valued at approximately $149,000. AQR Capital Management LLC grew its holdings in shares of Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company's stock valued at $159,000 after purchasing an additional 1,986 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Energy Recovery in the third quarter valued at approximately $193,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ERII. Scotiabank began coverage on shares of Energy Recovery in a report on Thursday, December 5th. They issued a "buy" rating and a $22.00 price objective for the company. Seaport Res Ptn upgraded shares of Energy Recovery to a "strong-buy" rating in a report on Thursday, December 5th. Fearnley Fonds cut shares of Energy Recovery from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. B. Riley dropped their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Finally, Evercore ISI dropped their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $20.75.

Energy Recovery Stock Down 0.6 %

NASDAQ ERII traded down $0.10 on Tuesday, hitting $16.09. 317,196 shares of the stock were exchanged, compared to its average volume of 433,981. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The company has a market cap of $931.51 million, a PE ratio of 47.26 and a beta of 1.18. The company has a 50-day moving average price of $17.47 and a 200-day moving average price of $16.01.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company's revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. As a group, equities research analysts predict that Energy Recovery, Inc. will post 0.39 EPS for the current fiscal year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 4,207 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.06, for a total transaction of $84,392.42. Following the completion of the transaction, the senior vice president now owns 106,367 shares in the company, valued at approximately $2,133,722.02. This represents a 3.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David W. Moon sold 2,550 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now owns 87,101 shares of the company's stock, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,406 shares of company stock worth $1,166,088. 4.10% of the stock is currently owned by insiders.

Energy Recovery Company 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.