Acadian Asset Management LLC Buys New Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Acadian Asset Management LLC bought a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,150 shares of the industrial products company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Capital Management LLC lifted its holdings in shares of Energy Recovery by 64.7% during the 4th quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock valued at $82,085,000 after acquiring an additional 1,711,129 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Energy Recovery by 391.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 78,204 shares of the industrial products company’s stock worth $1,235,000 after buying an additional 62,287 shares in the last quarter. KBC Group NV lifted its holdings in Energy Recovery by 17.2% in the 4th quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company’s stock worth $20,458,000 after buying an additional 159,143 shares in the last quarter. Robeco Schweiz AG lifted its holdings in Energy Recovery by 21.2% in the 4th quarter. Robeco Schweiz AG now owns 618,269 shares of the industrial products company’s stock worth $11,648,000 after buying an additional 108,130 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Energy Recovery in the 1st quarter worth $2,372,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Insider Activity at Energy Recovery

In related news, insider William Yeung sold 2,012 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.63, for a total transaction of $29,435.56. Following the completion of the sale, the insider now owns 85,291 shares of the company’s stock, valued at approximately $1,247,807.33. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Energy Recovery news, CTO Farshad Ghasripoor sold 4,079 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.63, for a total value of $59,675.77. Following the completion of the transaction, the chief technology officer now owns 137,487 shares in the company, valued at approximately $2,011,434.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William Yeung sold 2,012 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $29,435.56. Following the completion of the transaction, the insider now owns 85,291 shares of the company’s stock, valued at approximately $1,247,807.33. The disclosure for this sale can be found here. Insiders sold a total of 8,444 shares of company stock valued at $123,536 in the last quarter. Insiders own 4.10% of the company’s stock.

Energy Recovery Price Performance

Shares of ERII stock opened at $17.05 on Friday. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $21.78. The firm has a market capitalization of $977.48 million, a P/E ratio of 50.15 and a beta of 1.22. The company’s fifty day moving average price is $16.06 and its two-hundred day moving average price is $14.71.

Energy Recovery (NASDAQ:ERII) last issued its earnings results 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. The business had revenue of $27.20 million for the quarter, compared to analyst estimates of $23.36 million. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. On average, sell-side analysts anticipate that Energy Recovery, Inc. will post 0.37 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on ERII. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James upgraded shares of 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.

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.