Ameriprise Financial Inc. Acquires 184,942 Shares of Energy Recovery, Inc. $ERII

Ameriprise Financial Inc. increased its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,138,893 shares of the industrial products company’s stock after purchasing an additional 184,942 shares during the period. Ameriprise Financial Inc. owned approximately 0.09% of Energy Recovery worth $81,657,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ERII. Vanguard Group Inc. boosted its position in Energy Recovery by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company’s stock worth $55,534,000 after acquiring an additional 242,494 shares during the last quarter. Nuveen LLC acquired a new position in Energy Recovery during the 1st quarter worth approximately $3,802,000. Raiffeisen Bank International AG acquired a new position in Energy Recovery during the 4th quarter worth approximately $3,459,000. Silvercrest Asset Management Group LLC boosted its position in Energy Recovery by 45.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 497,169 shares of the industrial products company’s stock worth $7,308,000 after acquiring an additional 156,184 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Energy Recovery during the 4th quarter worth approximately $1,970,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Stock Down 1.6%

Shares of Energy Recovery stock opened at $14.49 on Tuesday. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27. The stock has a market cap of $770.87 million, a P/E ratio of 34.50 and a beta of 1.03. The business’s 50 day moving average is $13.42 and its 200-day moving average is $14.13.

Analyst Ratings Changes

A number of equities analysts have weighed in on ERII shares. Fearnley Fonds raised Energy Recovery from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 20th. B. Riley upped their price target 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, Wall Street Zen downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Energy Recovery currently has an average rating of “Buy” and a consensus target price of $18.67.

Insider Buying and Selling

In other news, SVP Rodney Clemente sold 5,387 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $13.97, for a total transaction of $75,256.39. Following the sale, the senior vice president owned 100,765 shares in the company, valued at $1,407,687.05. This represents a 5.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Arve Hanstveit sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $12.68, for a total value of $380,400.00. Following the sale, the director owned 655,220 shares in the company, valued at approximately $8,308,189.60. This represents a 4.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,387 shares of company stock worth $710,656. Company insiders own 3.20% of the company’s stock.

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.