Sentry Investment Management LLC Makes New $117,000 Investment in Energy Recovery, Inc. (NASDAQ:ERII)

Sentry Investment Management LLC purchased a new position in Energy Recovery, Inc. (NASDAQ:ERII) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 6,189 shares of the industrial products company’s stock, valued at approximately $117,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millburn Ridgefield Corp purchased a new stake in shares of Energy Recovery during the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC acquired a new position in Energy Recovery in the 3rd quarter worth approximately $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Energy Recovery by 79.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,264 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 558 shares during the last quarter. Clear Street Markets LLC purchased a new position in Energy Recovery during the third quarter valued at approximately $33,000. Finally, Lazard Asset Management LLC purchased a new stake in Energy Recovery in the 1st quarter worth approximately $49,000. Institutional investors own 83.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI cut their target price on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th.

Energy Recovery Trading Down 1.2 %

Shares of ERII opened at $13.53 on Thursday. The firm has a market cap of $772.29 million, a P/E ratio of 36.57 and a beta of 1.27. Energy Recovery, Inc. has a 12 month low of $13.46 and a 12 month high of $30.76. The stock’s 50 day moving average is $15.22 and its two-hundred day moving average is $17.08.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $57.19 million during the quarter, compared to analyst estimates of $63.57 million. Energy Recovery had a net margin of 16.75% and a return on equity of 11.99%. Energy Recovery’s revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. Equities research analysts forecast that Energy Recovery, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total value of $774,500.00. Following the completion of the transaction, the director now directly owns 807,055 shares of the company’s stock, valued at approximately $12,501,281.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total transaction of $774,500.00. Following the completion of the sale, the director now owns 807,055 shares in the company, valued at approximately $12,501,281.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David W. Moon bought 10,750 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $15.51 per share, with a total value of $166,732.50. Following the purchase, the chief executive officer now directly owns 19,250 shares of the company’s stock, valued at approximately $298,567.50. The disclosure for this purchase can be found here. In the last three months, insiders sold 96,457 shares of company stock worth $1,519,283. Corporate insiders own 4.70% 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.