New York State Common Retirement Fund Acquires 185,163 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

New York State Common Retirement Fund grew its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 33.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 745,853 shares of the industrial products company’s stock after buying an additional 185,163 shares during the quarter. New York State Common Retirement Fund’s holdings in Energy Recovery were worth $14,052,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ERII. Barclays PLC lifted its stake in Energy Recovery by 8.2% in the third quarter. Barclays PLC now owns 21,940 shares of the industrial products company’s stock worth $466,000 after acquiring an additional 1,671 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Energy Recovery by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,655 shares of the industrial products company’s stock valued at $9,198,000 after purchasing an additional 13,247 shares in the last quarter. FMR LLC increased its position in shares of Energy Recovery by 376.4% during the third quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock valued at $82,952,000 after buying an additional 3,090,086 shares during the period. Invesco Ltd. increased its position in shares of Energy Recovery by 4.6% during the third quarter. Invesco Ltd. now owns 891,312 shares of the industrial products company’s stock valued at $18,905,000 after buying an additional 39,310 shares during the period. Finally, Raymond James & Associates boosted its position in Energy Recovery by 40.3% during the 3rd quarter. Raymond James & Associates now owns 297,886 shares of the industrial products company’s stock valued at $6,318,000 after acquiring an additional 85,544 shares in the last quarter. 83.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Energy Recovery Price Performance

Shares of Energy Recovery stock opened at $14.86 on Tuesday. Energy Recovery, Inc. has a 1 year low of $13.41 and a 1 year high of $30.76. The firm has a market cap of $851.92 million, a price-to-earnings ratio of 40.16 and a beta of 1.27. The company has a 50-day moving average of $14.91 and a 200 day moving average of $16.67.

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

Insider Activity at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the business’s 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 sale, the director now directly owns 807,055 shares of the company’s stock, valued at $12,501,281.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction dated 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 owns 807,055 shares of the company’s stock, valued at approximately $12,501,281.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert Yu Lang Mao sold 38,025 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.21, for a total transaction of $616,385.25. Following the completion of the transaction, the director now owns 176,112 shares in the company, valued at approximately $2,854,775.52. The disclosure for this sale can be found here. Insiders sold a total of 93,913 shares of company stock valued at $1,478,808 in the last 90 days. Corporate insiders own 4.70% 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.