SFE Investment Counsel Acquires 6,532 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

SFE Investment Counsel grew its position in Energy Recovery, Inc. (NASDAQ:ERII) by 57.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,915 shares of the industrial products company’s stock after buying an additional 6,532 shares during the period. SFE Investment Counsel’s holdings in Energy Recovery were worth $338,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its position in Energy Recovery by 376.4% during the 3rd quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after buying an additional 3,090,086 shares during the last quarter. Eaton Vance Management purchased a new position in shares of Energy Recovery during the 1st quarter valued at approximately $7,890,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Energy Recovery during the 4th quarter valued at approximately $6,991,000. Morgan Stanley increased its holdings in shares of Energy Recovery by 63.7% during the 4th quarter. Morgan Stanley now owns 889,304 shares of the industrial products company’s stock valued at $18,222,000 after purchasing an additional 345,998 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Energy Recovery by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,734,926 shares of the industrial products company’s stock valued at $59,457,000 after purchasing an additional 221,634 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Trading Down 0.7 %

Shares of ERII opened at $13.54 on Friday. Energy Recovery, Inc. has a 12-month low of $13.41 and a 12-month high of $30.76. The firm has a 50-day moving average price of $15.16 and a 200 day moving average price of $17.03. The firm has a market capitalization of $772.86 million, a P/E ratio of 36.84 and a beta of 1.27.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Energy Recovery had a net margin of 16.75% and a return on equity of 11.99%. The company had revenue of $57.19 million during the quarter, compared to analyst estimates of $63.57 million. During the same period in the previous year, the company earned $0.24 EPS. The company’s quarterly revenue was up 35.2% compared to the same quarter last year. Equities research analysts predict that Energy Recovery, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Transactions at Energy Recovery

In related news, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total transaction of $774,500.00. Following the sale, the director now directly owns 807,055 shares in the company, valued at $12,501,281.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David W. Moon purchased 10,750 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $15.51 per share, for a total transaction of $166,732.50. Following the completion of the purchase, the chief executive officer now directly owns 19,250 shares of the company’s stock, valued at approximately $298,567.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total transaction of $774,500.00. Following the transaction, the director now owns 807,055 shares in the company, valued at $12,501,281.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,457 shares of company stock valued at $1,519,283. 4.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Evercore ISI cut their target price on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th.

About Energy Recovery

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.