2,879 Shares in Energy Recovery, Inc. $ERII Bought by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH acquired a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,879 shares of the industrial products company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Energy Recovery by 5,662.3% during the 1st quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company’s stock worth $138,000 after acquiring an additional 8,550 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Energy Recovery during the 1st quarter worth about $162,000. Magnetar Financial LLC acquired a new position in shares of Energy Recovery during the 1st quarter worth about $223,000. Clear Creek Financial Management LLC boosted its position in shares of Energy Recovery by 5.9% during the 1st quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 850 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Energy Recovery by 43.1% during the 1st quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company’s stock worth $258,000 after acquiring an additional 4,899 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Energy Recovery

In other Energy Recovery news, insider William Yeung sold 3,567 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $16.00, for a total value of $57,072.00. Following the completion of the transaction, the insider owned 97,369 shares in the company, valued at approximately $1,557,904. This represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rodney Clemente sold 5,387 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.97, for a total value of $75,256.39. Following the completion of the transaction, the senior vice president owned 100,765 shares of the company’s stock, valued at $1,407,687.05. The trade was a 5.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,962 shares of company stock valued at $852,398. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

ERII has been the subject of several analyst reports. CJS Securities initiated coverage on Energy Recovery in a research report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price objective for the company. B. Riley upped their price objective on Energy Recovery from $12.50 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Energy Recovery in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.75.

Energy Recovery Stock Up 1.9%

ERII opened at $15.56 on Tuesday. The business has a 50 day moving average price of $14.72 and a two-hundred day moving average price of $13.95. The company has a market cap of $827.79 million, a PE ratio of 37.05 and a beta of 1.02. Energy Recovery, Inc. has a 52 week low of $10.86 and a 52 week high of $20.27.

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.