Energy Recovery, Inc. (NASDAQ:ERII) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 468,639 shares of the industrial products company’s stock after purchasing an additional 7,440 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Energy Recovery were worth $8,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new position in Energy Recovery during the second quarter valued at approximately $26,000. CWM LLC raised its position in Energy Recovery by 5,032.5% during the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 4,177 shares in the last quarter. AXA S.A. purchased a new position in Energy Recovery during the second quarter valued at approximately $149,000. AQR Capital Management LLC raised its position in Energy Recovery by 19.8% during the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after acquiring an additional 1,986 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new position in Energy Recovery during the third quarter valued at approximately $193,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Stock Up 1.3 %

Shares of NASDAQ:ERII opened at $16.80 on Wednesday. The business has a fifty day moving average of $17.53 and a two-hundred day moving average of $15.92. The stock has a market cap of $972.55 million, a P/E ratio of 49.41 and a beta of 1.18. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. On average, equities analysts anticipate that Energy Recovery, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at approximately $1,565,204.97. This trade represents a 2.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.98, for a total value of $116,959.90. Following the completion of the transaction, the senior vice president now owns 133,823 shares in the company, valued at $2,406,137.54. This trade represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,406 shares of company stock valued at $828,688 in the last quarter. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ERII shares. B. Riley reduced their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Evercore ISI reduced their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Finally, Scotiabank started coverage on Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 target price for the company. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Energy Recovery currently has a consensus rating of “Buy” and an average price target of $20.75.

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.