Raymond James & Associates Acquires 41,286 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Raymond James & Associates lifted its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 10.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 450,909 shares of the industrial products company’s stock after acquiring an additional 41,286 shares during the period. Raymond James & Associates owned 0.79% of Energy Recovery worth $7,841,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in shares of Energy Recovery by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 1,330 shares during the period. Sentry Investment Management LLC boosted its stake in shares of Energy Recovery by 23.2% in 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 period. Rhumbline Advisers boosted its stake 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 worth $1,270,000 after acquiring an additional 1,893 shares during the period. Hantz Financial Services Inc. bought a new position in shares of Energy Recovery in the second quarter worth about $26,000. Finally, AQR Capital Management LLC lifted its position in shares of Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after buying an additional 1,986 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $45,823.50. Following the sale, the chief executive officer now directly owns 87,101 shares in the company, valued at $1,565,204.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CTO Farshad Ghasripoor sold 10,526 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $189,152.22. Following the transaction, the chief technology officer now owns 126,961 shares of the company’s stock, valued at approximately $2,281,489.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David W. Moon sold 2,550 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at approximately $1,565,204.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,581 shares of company stock worth $351,936 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Energy Recovery Trading Up 1.6 %

NASDAQ:ERII opened at $17.86 on Thursday. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $19.94. The business’s 50-day moving average is $17.17 and its 200 day moving average is $15.22. The company has a market capitalization of $1.02 billion, a P/E ratio of 52.53 and a beta of 1.23.

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

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.