Intech Investment Management LLC Acquires New Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Intech Investment Management LLC bought a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII) during the fourth quarter, HoldingsChannel reports. The fund bought 26,363 shares of the industrial products company’s stock, valued at approximately $388,000.

Several other institutional investors also recently modified their holdings of ERII. Avanza Fonder AB acquired a new stake in shares of Energy Recovery during the 4th quarter valued at $107,000. Inspire Investing LLC boosted its stake in shares of Energy Recovery by 14.8% during the fourth quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock valued at $409,000 after purchasing an additional 3,594 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Energy Recovery by 2.9% during the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 830 shares during the last quarter. Keene & Associates Inc. increased its stake in shares of Energy Recovery by 15.5% in the fourth quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company’s stock valued at $479,000 after buying an additional 4,375 shares during the period. Finally, HighTower Advisors LLC boosted its position in Energy Recovery by 10.6% during the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company’s stock worth $578,000 after buying an additional 3,176 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Scotiabank began coverage on Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.75.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $16.60 on Wednesday. The business’s 50-day moving average is $15.22 and its 200-day moving average is $16.18. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27. The company has a market capitalization of $912.25 million, a price-to-earnings ratio of 48.82 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the sale, the director now owns 693,182 shares in the company, valued at $11,326,593.88. The trade was a 6.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the transaction, the senior vice president now directly owns 111,109 shares in the company, valued at $1,713,300.78. The trade was a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

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.