Vanguard Group Inc. Increases Stock Holdings in Energy Recovery, Inc. $ERII

Vanguard Group Inc. boosted its position in Energy Recovery, Inc. (NASDAQ:ERII) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,852,438 shares of the industrial products company’s stock after purchasing an additional 89,696 shares during the period. Vanguard Group Inc. owned about 0.07% of Energy Recovery worth $51,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Capital Group California Inc. purchased a new position in Energy Recovery in the fourth quarter worth about $140,000. Evergreen Capital Management LLC purchased a new position in Energy Recovery in the fourth quarter worth about $235,000. State of Alaska Department of Revenue boosted its position in Energy Recovery by 252.9% in the fourth quarter. State of Alaska Department of Revenue now owns 10,642 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 7,626 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Energy Recovery by 3.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 220,116 shares of the industrial products company’s stock worth $2,969,000 after purchasing an additional 7,575 shares during the last quarter. Finally, Miller Global Investments LLC purchased a new position in Energy Recovery in the fourth quarter worth about $336,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ERII shares. Freedom Capital cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Loop Capital set a $13.00 target price on Energy Recovery in a research report on Monday, March 2nd. Weiss Ratings cut Energy Recovery from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Northcoast Research downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 15th. Finally, Seaport Research Partners reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Energy Recovery in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Energy Recovery has an average rating of “Hold” and a consensus price target of $15.00.

Energy Recovery Stock Down 2.4%

NASDAQ ERII opened at $8.41 on Friday. The stock’s 50-day moving average price is $10.30 and its 200-day moving average price is $13.06. Energy Recovery, Inc. has a 52 week low of $8.14 and a 52 week high of $18.32. The company has a market capitalization of $433.45 million, a P/E ratio of 22.13 and a beta of 1.04.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Wednesday, May 6th. The industrial products company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Energy Recovery had a return on equity of 10.89% and a net margin of 15.07%.The company had revenue of $9.71 million during the quarter, compared to the consensus estimate of $8.37 million. Research analysts anticipate that Energy Recovery, Inc. will post 0.42 EPS for the current year.

Insider Transactions at Energy Recovery

In other news, SVP Rodney Clemente sold 20,568 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $10.61, for a total value of $218,226.48. Following the transaction, the senior vice president owned 116,008 shares of the company’s stock, valued at $1,230,844.88. This trade represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela L. Tondreau bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $8.34 per share, for a total transaction of $166,800.00. Following the purchase, the director directly owned 37,362 shares in the company, valued at $311,599.08. This trade represents a 115.19% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 238,551 shares of company stock valued at $2,456,512 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Energy Recovery Company Profile

Energy Recovery, Inc (NASDAQ: ERII) is an energy technology company specializing in the design and manufacture of high-efficiency devices that capture and repurpose energy in fluid-handling applications. The company’s core offering, the Pressure Exchanger® (PX®) device, enables seawater reverse osmosis (SWRO) desalination plants to recover and reuse hydraulic energy that would otherwise be lost during brine discharge. By integrating PX technology into desalination processes, Energy Recovery helps operators significantly reduce the energy consumption and operating costs of producing fresh water from seawater or brackish sources.

In addition to desalination solutions, Energy Recovery has expanded its portfolio to serve the oil and gas sector through turbocharger systems that improve the energy efficiency of hydraulic fracturing operations.