Creative Planning Raises Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Creative Planning lifted its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 53.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,342 shares of the industrial products company’s stock after buying an additional 13,008 shares during the quarter. Creative Planning owned 0.06% of Energy Recovery worth $649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ERII. The Manufacturers Life Insurance Company increased its position 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 valued at $294,000 after buying an additional 1,330 shares in the last quarter. Sentry Investment Management LLC raised its stake in 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 valued at $120,000 after purchasing an additional 1,438 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Energy Recovery by 2.0% during the second quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock valued at $1,270,000 after buying an additional 1,893 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Energy Recovery during the second quarter worth $26,000. Finally, AQR Capital Management LLC grew its holdings in Energy Recovery by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after buying an additional 1,986 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Trading Down 0.1 %

Shares of Energy Recovery stock opened at $18.52 on Tuesday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 54.47 and a beta of 1.22. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $19.94. The business’s 50 day simple moving average is $17.18 and its 200-day simple moving average is $15.35.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business 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 business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. Sell-side analysts predict that Energy Recovery, Inc. will post 0.37 earnings per share for the current year.

Insider Buying and Selling

In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.98, for a total value of $116,959.90. Following the transaction, the senior vice president now owns 133,823 shares of the company’s stock, valued at approximately $2,406,137.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of the business’s 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 sale, the senior vice president now owns 133,823 shares in the company, valued at approximately $2,406,137.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the firm’s 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 approximately $1,565,204.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,581 shares of company stock valued at $351,936 over the last three months. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. 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 report on Tuesday, July 9th. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Energy Recovery Company 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.