Swiss National Bank Trims Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Swiss National Bank lowered its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 9.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,800 shares of the industrial products company’s stock after selling 11,700 shares during the quarter. Swiss National Bank owned approximately 0.19% of Energy Recovery worth $2,508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ERII. Eaton Vance Management bought a new position in shares of Energy Recovery during the 1st quarter valued at approximately $7,890,000. Morgan Stanley grew its stake in shares of Energy Recovery by 63.7% during the 4th quarter. Morgan Stanley now owns 889,304 shares of the industrial products company’s stock valued at $18,222,000 after acquiring an additional 345,998 shares during the period. Vanguard Group Inc. grew its stake in shares of Energy Recovery by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,734,926 shares of the industrial products company’s stock valued at $59,457,000 after acquiring an additional 221,634 shares during the period. Nordea Investment Management AB bought a new position in Energy Recovery in the 1st quarter worth approximately $3,927,000. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its stake in Energy Recovery by 44.4% in the 1st quarter. AEGON ASSET MANAGEMENT UK Plc now owns 507,924 shares of the industrial products company’s stock worth $11,708,000 after purchasing an additional 156,195 shares during the period. Hedge funds and other institutional investors own 79.49% of the company’s stock.

Insider Activity at Energy Recovery

In other news, Director Lisa A. Pollina sold 1,043 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $27.00, for a total value of $28,161.00. Following the completion of the sale, the director now directly owns 4,807 shares in the company, valued at $129,789. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Lisa A. Pollina sold 1,043 shares of Energy Recovery stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $27.00, for a total value of $28,161.00. Following the sale, the director now directly owns 4,807 shares of the company’s stock, valued at $129,789. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Farshad Ghasripoor sold 51,131 shares of Energy Recovery stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $27.92, for a total value of $1,427,577.52. Following the completion of the sale, the chief technology officer now directly owns 81,812 shares in the company, valued at $2,284,191.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,961 shares of company stock worth $3,864,921. 4.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ERII has been the subject of a number of research reports. Raymond James increased their target price on Energy Recovery from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. B. Riley increased their price target on Energy Recovery from $28.00 to $32.00 in a report on Tuesday, June 27th. StockNews.com started coverage on Energy Recovery in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, TheStreet lowered Energy Recovery from an “a-” rating to a “c+” rating in a report on Tuesday, May 9th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Energy Recovery Price Performance

Shares of ERII stock opened at $25.15 on Wednesday. Energy Recovery, Inc. has a 1-year low of $17.32 and a 1-year high of $30.76. The stock’s 50-day moving average is $28.21 and its 200 day moving average is $25.45. The company has a market cap of $1.42 billion, a P/E ratio of 139.73 and a beta of 1.24.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $20.72 million during the quarter, compared to analyst estimates of $24.52 million. Energy Recovery had a return on equity of 7.11% and a net margin of 9.87%. On average, analysts anticipate that Energy Recovery, Inc. will post 0.32 EPS for the current year.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells various solutions for the seawater reverse osmosis desalination and industrial wastewater treatment industries worldwide. The company operates through Water and Emerging Technologies segments. It offers a suite of products, including energy recovery devices, and high-pressure feed and recirculation pumps; hydraulic turbochargers and boosters; and spare parts, as well as repair, field, and commissioning services.