Skandinaviska Enskilda Banken AB publ Sells 1,216 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,263 shares of the industrial products company’s stock after selling 1,216 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Energy Recovery were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Avanza Fonder AB purchased a new position in shares of Energy Recovery during the 4th quarter worth $107,000. Inspire Investing LLC lifted its position in Energy Recovery by 14.8% during the fourth quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock valued at $409,000 after purchasing an additional 3,594 shares in the last quarter. Manchester Capital Management LLC grew its holdings in Energy Recovery by 2.9% during the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 830 shares during the period. Keene & Associates Inc. increased its position in Energy Recovery by 15.5% in the fourth quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company’s stock worth $479,000 after buying an additional 4,375 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Energy Recovery by 10.6% in the third quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company’s stock worth $578,000 after buying an additional 3,176 shares during the period. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Price Performance

Energy Recovery stock opened at $15.80 on Tuesday. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27. The firm’s 50 day moving average price is $14.98 and its 200-day moving average price is $16.14. The stock has a market cap of $868.29 million, a P/E ratio of 46.47 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (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 company had revenue of $67.08 million during the quarter, compared to the consensus estimate of $67.39 million. As a group, equities analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

ERII has been the subject of a number of recent research reports. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Scotiabank began coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. B. Riley decreased their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, Evercore ISI dropped 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. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $20.75.

Insider Transactions at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. The trade was a 16.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the transaction, the director now owns 693,182 shares of the company’s stock, valued at $11,326,593.88. This represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

About Energy Recovery

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.