Van ECK Associates Corp Acquires 23,449 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Van ECK Associates Corp lifted its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 23.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,783 shares of the industrial products company’s stock after acquiring an additional 23,449 shares during the period. Van ECK Associates Corp owned 0.21% of Energy Recovery worth $1,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brown Capital Management LLC lifted its stake in shares of Energy Recovery by 64.7% in the 4th quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock valued at $82,085,000 after purchasing an additional 1,711,129 shares during the last quarter. Vanguard Group Inc. lifted its position in Energy Recovery by 1.8% in the first quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock worth $47,519,000 after buying an additional 53,720 shares during the last quarter. KBC Group NV lifted its position in Energy Recovery by 17.2% in the fourth quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company’s stock worth $20,458,000 after buying an additional 159,143 shares during the last quarter. Robeco Schweiz AG boosted its stake in Energy Recovery by 21.2% during the fourth quarter. Robeco Schweiz AG now owns 618,269 shares of the industrial products company’s stock worth $11,648,000 after buying an additional 108,130 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Energy Recovery by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,205 shares of the industrial products company’s stock valued at $8,275,000 after acquiring an additional 5,550 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Insider Activity

In related news, insider William Yeung sold 2,012 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $29,435.56. Following the transaction, the insider now owns 85,291 shares of the company’s stock, valued at $1,247,807.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Rodney Clemente sold 2,353 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $34,424.39. Following the transaction, the senior vice president now owns 140,328 shares in the company, valued at $2,052,998.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Yeung sold 2,012 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $29,435.56. Following the completion of the sale, the insider now directly owns 85,291 shares of the company’s stock, valued at $1,247,807.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,444 shares of company stock valued at $123,536. Corporate insiders own 4.10% of the company’s stock.

Energy Recovery Stock Down 2.1 %

Shares of Energy Recovery stock opened at $14.48 on Friday. The stock’s fifty day moving average is $15.49 and its two-hundred day moving average is $14.66. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $25.00. The company has a market capitalization of $830.14 million, a PE ratio of 42.59 and a beta of 1.22.

Analysts Set New Price Targets

ERII has been the subject of several analyst reports. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price for the company in a report on Tuesday, July 9th. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

Energy Recovery 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.