Commonwealth Equity Services LLC Trims Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Commonwealth Equity Services LLC cut its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,925 shares of the industrial products company’s stock after selling 1,890 shares during the period. Commonwealth Equity Services LLC’s holdings in Energy Recovery were worth $161,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Candriam S.C.A. grew its holdings in shares of Energy Recovery by 7.1% during the fourth quarter. Candriam S.C.A. now owns 162,976 shares of the industrial products company’s stock worth $2,396,000 after buying an additional 10,744 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Energy Recovery during the 4th quarter worth approximately $5,741,000. Charles Schwab Investment Management Inc. grew its stake in shares of Energy Recovery by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock valued at $6,989,000 after purchasing an additional 6,834 shares during the last quarter. Keene & Associates Inc. increased its holdings in shares of Energy Recovery by 15.5% in the fourth quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company’s stock valued at $479,000 after purchasing an additional 4,375 shares during the period. Finally, Baillie Gifford & Co. raised its stake in shares of Energy Recovery by 27.8% during the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock worth $16,462,000 after purchasing an additional 243,653 shares during the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Energy Recovery from a “hold” rating to a “buy” rating in a research report on Saturday, March 29th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $20.75.

Energy Recovery Price Performance

Shares of NASDAQ:ERII opened at $14.60 on Friday. The business has a 50-day moving average of $15.43 and a two-hundred day moving average of $16.08. The firm has a market capitalization of $802.34 million, a PE ratio of 42.94 and a beta of 1.05. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. As a group, research analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Insider Buying and Selling at Energy Recovery

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

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.