Energy Recovery, Inc. (NASDAQ:ERII) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC raised its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,239 shares of the industrial products company’s stock after acquiring an additional 3,176 shares during the quarter. HighTower Advisors LLC owned approximately 0.06% of Energy Recovery worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. acquired a new position in Energy Recovery in the 2nd quarter valued at about $26,000. CWM LLC raised its position in shares of Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after buying an additional 4,177 shares during the last quarter. AXA S.A. acquired a new position in shares of Energy Recovery in the second quarter valued at approximately $149,000. AQR Capital Management LLC lifted its stake in shares of Energy Recovery by 19.8% during the second 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. Finally, Pinnacle Associates Ltd. acquired a new stake in Energy Recovery during the third quarter worth approximately $193,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Stock Down 1.4 %

Energy Recovery stock opened at $15.16 on Friday. The firm has a fifty day moving average of $17.29 and a 200-day moving average of $16.01. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The firm has a market capitalization of $877.67 million, a P/E ratio of 44.59 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts expect that Energy Recovery, Inc. will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total transaction of $337,400.00. Following the transaction, the director now directly owns 743,182 shares of the company’s stock, valued at approximately $12,537,480.34. The trade was a 2.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rodney Clemente sold 6,505 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.98, for a total transaction of $116,959.90. Following the sale, the senior vice president now directly owns 133,823 shares of the company’s stock, 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 sold a total of 63,406 shares of company stock worth $1,166,088 in the last 90 days. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ERII. Fearnley Fonds downgraded Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Scotiabank began coverage on shares of Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock. Evercore ISI lowered their target price on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. B. Riley cut their price target on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Two research 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. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $20.75.

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.