Federated Hermes Inc. Invests $472,000 in Energy Recovery, Inc. (NASDAQ:ERII)

Federated Hermes Inc. bought a new stake in Energy Recovery, Inc. (NASDAQ:ERII) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,525 shares of the industrial products company’s stock, valued at approximately $472,000. Federated Hermes Inc. owned approximately 0.06% of Energy Recovery as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Sentry Investment Management LLC increased its stake in Energy Recovery by 23.2% during the first quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 1,438 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Energy Recovery by 2.0% in the second quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock valued at $1,270,000 after purchasing an additional 1,893 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Energy Recovery during the second quarter worth $26,000. Price T Rowe Associates Inc. MD increased its holdings in Energy Recovery by 7.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,756 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 2,018 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Energy Recovery by 12.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,294 shares of the industrial products company’s stock valued at $283,000 after acquiring an additional 2,398 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $17.05 on Tuesday. The stock has a market cap of $977.48 million, a P/E ratio of 50.15 and a beta of 1.22. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $21.38. The stock has a 50 day moving average of $16.11 and a two-hundred day moving average of $14.71.

Energy Recovery (NASDAQ:ERII) last issued its quarterly 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 firm had revenue of $27.20 million for the quarter, compared to analysts’ expectations of $23.36 million. As a group, research analysts predict that Energy Recovery, Inc. will post 0.37 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO David W. Moon acquired 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $16.00 per share, with a total value of $48,000.00. Following the purchase, the chief executive officer now owns 32,750 shares of the company’s stock, valued at approximately $524,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Energy Recovery news, insider William Yeung sold 2,012 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $14.63, for a total transaction of $29,435.56. Following the sale, the insider now directly owns 85,291 shares in the company, valued at approximately $1,247,807.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Moon purchased 3,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $16.00 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now directly owns 32,750 shares in the company, valued at $524,000. The disclosure for this purchase can be found here. Insiders sold a total of 8,444 shares of company stock valued at $123,536 over the last three months. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.