Rhumbline Advisers Acquires 1,893 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Rhumbline Advisers raised its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,559 shares of the industrial products company’s stock after acquiring an additional 1,893 shares during the quarter. Rhumbline Advisers’ holdings in Energy Recovery were worth $1,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in shares of Energy Recovery in the 2nd quarter worth $26,000. Sentry Investment Management LLC lifted its holdings in shares of Energy Recovery by 23.2% in the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock worth $120,000 after buying an additional 1,438 shares during the period. ProShare Advisors LLC purchased a new stake in shares of Energy Recovery in the 1st quarter worth $158,000. Lazard Asset Management LLC lifted its stake in shares of Energy Recovery by 39.6% during the 1st quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 3,076 shares during the last quarter. Finally, Clear Creek Financial Management LLC purchased a new stake in shares of Energy Recovery during the 1st quarter worth $244,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $17.05 on Friday. The business’s 50-day moving average is $16.06 and its 200 day moving average is $14.71. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $21.78. The firm has a market capitalization of $977.48 million, a P/E ratio of 50.15 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The company had revenue of $27.20 million for the quarter, compared to analyst estimates of $23.36 million. On average, analysts expect that Energy Recovery, Inc. will post 0.37 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ERII. Raymond James upgraded Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, July 9th. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Insider Activity at Energy Recovery

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

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.