Voya Investment Management LLC Buys 3,293 Shares of Energy Recovery, Inc. (ERII)
Voya Investment Management LLC increased its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 21.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 19,001 shares of the industrial products company’s stock after acquiring an additional 3,293 shares during the period. Voya Investment Management LLC’s holdings in Energy Recovery were worth $158,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC acquired a new position in shares of Energy Recovery in the 2nd quarter valued at approximately $117,000. Northern Trust Corp raised its position in shares of Energy Recovery by 10.9% in the 2nd quarter. Northern Trust Corp now owns 449,189 shares of the industrial products company’s stock valued at $3,724,000 after purchasing an additional 44,294 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Energy Recovery by 36.1% in the 2nd quarter. D.A. Davidson & CO. now owns 72,800 shares of the industrial products company’s stock valued at $603,000 after purchasing an additional 19,300 shares in the last quarter. Menta Capital LLC raised its position in shares of Energy Recovery by 32.5% in the 2nd quarter. Menta Capital LLC now owns 95,534 shares of the industrial products company’s stock valued at $792,000 after purchasing an additional 23,409 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Energy Recovery by 7.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 97,258 shares of the industrial products company’s stock valued at $806,000 after purchasing an additional 6,387 shares in the last quarter. 30.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on ERII. B. Riley upped their target price on Energy Recovery from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Seaport Global Securities began coverage on Energy Recovery in a research report on Tuesday, October 17th. They issued a “buy” rating and a $17.00 target price on the stock. FBR & Co reaffirmed a “buy” rating on shares of Energy Recovery in a research report on Wednesday, October 11th. BidaskClub lowered Energy Recovery from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Capital One Financial Corporation began coverage on Energy Recovery in a research report on Thursday, September 7th. They issued an “overweight” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.00.
In other news, Director Olav Fjell purchased 18,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was acquired at an average cost of $7.08 per share, for a total transaction of $127,440.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $127,440. The acquisition was disclosed in a filing with the SEC, which is available at this link. 23.60% of the stock is currently owned by insiders.
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Shares of Energy Recovery, Inc. (ERII) opened at $9.68 on Thursday. Energy Recovery, Inc. has a twelve month low of $6.13 and a twelve month high of $12.73. The firm has a market capitalization of $521.48, a P/E ratio of 139.00, a PEG ratio of 1.97 and a beta of 5.60.
Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.31). Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The firm had revenue of $15.08 million during the quarter, compared to the consensus estimate of $14.64 million. During the same quarter last year, the firm posted ($0.01) earnings per share. Energy Recovery’s revenue was up 22.9% compared to the same quarter last year. sell-side analysts expect that Energy Recovery, Inc. will post 0.33 EPS for the current year.
Energy Recovery Profile
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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