First Trust Advisors LP Increases Stake in Energy Recovery, Inc. (NASDAQ:ERII)

First Trust Advisors LP boosted its stake in Energy Recovery, Inc. (NASDAQ:ERII – Get Rating) by 14.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 774,612 shares of the industrial products company’s stock after purchasing an additional 95,122 shares during the period. First Trust Advisors LP owned about 1.38% of Energy Recovery worth $15,872,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ERII. Mesirow Institutional Investment Management Inc. purchased a new position in Energy Recovery in the 3rd quarter worth approximately $11,220,000. Eaton Vance Management purchased a new position in shares of Energy Recovery during the first quarter valued at approximately $7,890,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Energy Recovery during the fourth quarter valued at approximately $7,207,000. Vanguard Group Inc. increased its stake in shares of Energy Recovery by 8.8% during the third quarter. Vanguard Group Inc. now owns 2,734,926 shares of the industrial products company’s stock valued at $59,457,000 after buying an additional 221,634 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Energy Recovery during the first quarter valued at approximately $2,799,000. 76.96% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Stock Up 1.0 %

NASDAQ ERII opened at $25.48 on Tuesday. Energy Recovery, Inc. has a twelve month low of $17.32 and a twelve month high of $26.34. The firm has a market capitalization of $1.44 billion, a PE ratio of 149.89 and a beta of 1.20. The stock’s 50 day moving average is $23.24 and its 200 day moving average is $22.24.

Energy Recovery (NASDAQ:ERII – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. Energy Recovery had a return on equity of 7.54% and a net margin of 9.26%. The company had revenue of $13.40 million for the quarter, compared to analyst estimates of $13.04 million. During the same period in the previous year, the company posted $0.14 earnings per share. The firm’s revenue was down 58.8% on a year-over-year basis. On average, research analysts anticipate that Energy Recovery, Inc. will post 0.46 earnings per share for the current year.

Insider Activity at Energy Recovery

In related news, Director Arve Hanstveit sold 16,000 shares of Energy Recovery stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $23.50, for a total transaction of $376,000.00. Following the sale, the director now directly owns 868,352 shares in the company, valued at $20,406,272. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 18,533 shares of company stock worth $436,767 over the last ninety days. 4.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ERII shares. TheStreet cut Energy Recovery from an “a-” rating to a “c+” rating in a research note on Tuesday, May 9th. Raymond James boosted their target price on Energy Recovery from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, April 5th. Finally, StockNews.com started coverage on Energy Recovery in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Energy Recovery has an average rating of “Moderate Buy” and an average target price of $27.00.

About Energy Recovery

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Energy Recovery, Inc engages in the design and manufacture of industrial fluid flow solutions. It operates through the Water and Emerging Technologies segment. The Water segment deals with the development, sales, and support of the PX, Turbochargers and pumps used in seawater desalination and industrial wastewater activities.