Candriam S.C.A. Raises Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Candriam S.C.A. boosted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,976 shares of the industrial products company’s stock after acquiring an additional 10,744 shares during the period. Candriam S.C.A. owned 0.28% of Energy Recovery worth $2,396,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Avanza Fonder AB purchased a new position in Energy Recovery during the fourth quarter valued at approximately $107,000. Wealth Enhancement Advisory Services LLC grew its stake in Energy Recovery by 8.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock worth $307,000 after buying an additional 1,433 shares in the last quarter. Versor Investments LP purchased a new position in Energy Recovery in the 3rd quarter worth approximately $377,000. Inspire Investing LLC grew its stake in Energy Recovery by 14.8% in the 4th quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock worth $409,000 after buying an additional 3,594 shares in the last quarter. Finally, Manchester Capital Management LLC grew its stake in Energy Recovery by 2.9% in the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock worth $429,000 after buying an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Stock Performance

Shares of Energy Recovery stock opened at $16.37 on Monday. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The stock has a market capitalization of $899.61 million, a price-to-earnings ratio of 48.15 and a beta of 1.21. The company has a fifty day moving average of $14.83 and a 200-day moving average of $16.19.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million. On average, equities research analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the transaction, the director now directly owns 743,182 shares in the company, valued at approximately $12,537,480.34. This represents a 2.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ERII shares. Scotiabank started coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. B. Riley cut their price target on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Evercore ISI cut their price target on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Energy Recovery currently has a consensus rating of “Buy” and a consensus price target 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.