Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 22.9% during the 4th quarter, Holdings Channel reports. The firm owned 16,375 shares of the industrial products company’s stock after buying an additional 3,047 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Energy Recovery were worth $309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sentry Investment Management LLC acquired a new stake in Energy Recovery during the 4th quarter worth approximately $117,000. Vontobel Holding Ltd. raised its stake in shares of Energy Recovery by 16.9% in the fourth quarter. Vontobel Holding Ltd. now owns 190,467 shares of the industrial products company’s stock valued at $3,588,000 after acquiring an additional 27,495 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Energy Recovery by 29.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 116,914 shares of the industrial products company’s stock valued at $2,203,000 after acquiring an additional 26,450 shares in the last quarter. Raymond James & Associates boosted its holdings in Energy Recovery by 2.5% in the fourth quarter. Raymond James & Associates now owns 305,240 shares of the industrial products company’s stock valued at $5,751,000 after purchasing an additional 7,354 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in Energy Recovery during the 4th quarter worth $6,991,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Analyst Ratings Changes

ERII has been the topic of a number of analyst reports. StockNews.com lowered Energy Recovery from a “hold” rating to a “sell” rating in a research report on Friday. Evercore ISI reduced their target price on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were 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 in the company, valued at approximately $12,501,281.95. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Arve Hanstveit sold 50,000 shares of the business’s 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 sale, the director now directly owns 807,055 shares of the company’s stock, valued at approximately $12,501,281.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $16.21, for a total value of $616,385.25. Following the completion of the sale, the director now directly owns 176,112 shares of the company’s stock, valued at $2,854,775.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,807 shares of company stock valued at $1,432,560. 4.70% of the stock is owned by corporate insiders.

Energy Recovery Price Performance

NASDAQ:ERII opened at $13.64 on Monday. Energy Recovery, Inc. has a 12 month low of $12.45 and a 12 month high of $30.76. The firm has a market capitalization of $781.98 million, a PE ratio of 40.12 and a beta of 1.26. The business’s fifty day moving average price is $14.83 and its 200 day moving average price is $16.52.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $57.19 million during the quarter, compared to analysts’ expectations of $63.57 million. Energy Recovery had a net margin of 15.38% and a return on equity of 9.82%. The company’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, equities analysts anticipate that Energy Recovery, Inc. will post 0.42 EPS for the current year.

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.