Nordea Investment Management AB Has $1.86 Million Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Nordea Investment Management AB raised its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,719 shares of the industrial products company’s stock after purchasing an additional 1,618 shares during the period. Nordea Investment Management AB’s holdings in Energy Recovery were worth $1,859,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. KBC Group NV boosted its position in shares of Energy Recovery by 14.1% in the third quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock valued at $21,533,000 after acquiring an additional 153,381 shares during the period. Federated Hermes Inc. bought a new stake in shares of Energy Recovery in the second quarter valued at approximately $472,000. Geode Capital Management LLC boosted its position in shares of Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after acquiring an additional 56,306 shares during the period. Barclays PLC boosted its position in shares of Energy Recovery by 376.6% in the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock valued at $1,681,000 after acquiring an additional 76,393 shares during the period. Finally, Baillie Gifford & Co. bought a new stake in shares of Energy Recovery in the third quarter valued at approximately $15,237,000. 83.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Energy Recovery

In other news, SVP Rodney Clemente sold 6,505 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.98, for a total value of $116,959.90. Following the completion of the sale, the senior vice president now directly owns 133,823 shares in the company, valued at approximately $2,406,137.54. This trade represents a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the sale, the chief executive officer now owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. This trade represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,406 shares of company stock valued at $1,166,088. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ERII has been the subject of several research reports. Scotiabank initiated coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report 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 report on Tuesday, November 19th. Finally, 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 report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $20.75.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $14.14 on Friday. The stock has a market cap of $818.56 million, a PE ratio of 41.59 and a beta of 1.18. The business has a fifty day moving average of $16.23 and a two-hundred day moving average of $16.24. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company 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 business’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. Analysts predict that Energy Recovery, Inc. will post 0.39 earnings per share for the current year.

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.