Wellington Management Group LLP Sells 43,617 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Wellington Management Group LLP decreased its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 276,911 shares of the industrial products company’s stock after selling 43,617 shares during the quarter. Wellington Management Group LLP owned 0.48% of Energy Recovery worth $4,815,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in shares of Energy Recovery by 13.8% during the second quarter. Assenagon Asset Management S.A. now owns 178,451 shares of the industrial products company’s stock valued at $2,372,000 after buying an additional 21,596 shares during the last quarter. Raymond James & Associates boosted its holdings in Energy Recovery by 15.0% during the 2nd quarter. Raymond James & Associates now owns 409,623 shares of the industrial products company’s stock worth $5,444,000 after acquiring an additional 53,330 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Energy Recovery by 13.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 205,786 shares of the industrial products company’s stock worth $2,735,000 after acquiring an additional 23,660 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new stake in shares of Energy Recovery in the second quarter valued at about $1,192,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Energy Recovery by 12.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,294 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 2,398 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Insider Activity

In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of Energy Recovery stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the completion of the transaction, the chief executive officer now owns 87,101 shares of the company’s stock, valued at $1,565,204.97. The trade was a 2.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rodney Clemente sold 6,505 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction 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. The trade was a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,406 shares of company stock valued at $828,688 over the last quarter. Company insiders own 4.10% of the company’s stock.

Energy Recovery Trading Up 0.5 %

Shares of NASDAQ ERII opened at $16.19 on Tuesday. The firm has a market cap of $937.30 million, a price-to-earnings ratio of 47.62 and a beta of 1.18. The stock has a fifty day simple moving average of $17.50 and a two-hundred day simple moving average of $15.99. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $38.60 million during the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. Analysts forecast that Energy Recovery, Inc. will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ERII shares. B. Riley reduced their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Fearnley Fonds lowered Energy Recovery from a “strong-buy” rating to a “hold” rating in a 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 cut their price objective on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Finally, Scotiabank started coverage on Energy Recovery in a research report 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 assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.75.

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.