Charles Schwab Investment Management Inc. Acquires 7,440 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Charles Schwab Investment Management Inc. grew its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 1.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 468,639 shares of the industrial products company’s stock after acquiring an additional 7,440 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.81% of Energy Recovery worth $8,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ERII. Baillie Gifford & Co. bought a new position in shares of Energy Recovery during the 3rd quarter valued at approximately $15,237,000. Millennium Management LLC lifted its position in Energy Recovery by 130.3% in the second quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock worth $4,739,000 after buying an additional 201,770 shares during the last quarter. KBC Group NV lifted its position in Energy Recovery by 14.1% in the third quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock worth $21,533,000 after buying an additional 153,381 shares during the last quarter. Roubaix Capital LLC bought a new stake in Energy Recovery in the second quarter worth $1,841,000. Finally, Exchange Traded Concepts LLC lifted its position in Energy Recovery by 668.4% in the third quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock worth $2,522,000 after buying an additional 126,148 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Trading Up 1.3 %

Shares of Energy Recovery stock opened at $16.80 on Wednesday. The firm has a market cap of $972.55 million, a P/E ratio of 49.41 and a beta of 1.18. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27. The stock’s fifty day moving average price is $17.53 and its 200-day moving average price is $15.92.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $38.60 million for 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. Analysts forecast that Energy Recovery, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ERII has been the subject of a number of analyst reports. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Evercore ISI reduced their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Scotiabank started coverage on Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, B. Riley reduced their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $20.75.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, 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 value of $45,823.50. Following the completion of the sale, the chief executive officer now owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. This trade represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rodney Clemente sold 4,207 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the completion of the sale, the senior vice president now directly owns 106,367 shares of the company’s stock, valued at approximately $2,133,722.02. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,406 shares of company stock worth $828,688 over the last quarter. 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.