Northern Trust Corp Grows Position in Energy Recovery, Inc. (NASDAQ:ERII)

Northern Trust Corp raised its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 559,587 shares of the industrial products company’s stock after buying an additional 24,299 shares during the quarter. Northern Trust Corp owned about 0.97% of Energy Recovery worth $8,226,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bank of Montreal Can grew its holdings in shares of Energy Recovery by 99.0% during the fourth quarter. Bank of Montreal Can now owns 49,358 shares of the industrial products company’s stock worth $726,000 after buying an additional 24,555 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Energy Recovery by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock worth $6,989,000 after buying an additional 6,834 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Energy Recovery by 9.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,275 shares of the industrial products company’s stock worth $563,000 after buying an additional 3,364 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Energy Recovery by 552.4% during the fourth quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company’s stock worth $1,563,000 after buying an additional 90,008 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Energy Recovery in the fourth quarter valued at about $860,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ERII shares. StockNews.com lowered shares of Energy Recovery from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. B. Riley lowered shares of Energy Recovery from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $12.50 in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Energy Recovery has a consensus rating of “Moderate Buy” and an average price target of $18.88.

Insider Transactions at Energy Recovery

In other news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total transaction of $817,000.00. Following the sale, the director now owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David W. Moon purchased 4,200 shares of Energy Recovery stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average cost of $12.20 per share, for a total transaction of $51,240.00. Following the transaction, the chief executive officer now directly owns 36,950 shares of the company’s stock, valued at approximately $450,790. This represents a 12.82% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.10% of the company’s stock.

Energy Recovery Price Performance

Shares of ERII stock opened at $13.16 on Monday. The firm has a market cap of $717.21 million, a PE ratio of 38.71 and a beta of 1.09. The company has a 50-day moving average of $14.99 and a two-hundred day moving average of $15.43. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $20.27.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company had revenue of $8.07 million during the quarter, compared to analyst estimates of $21.97 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The business’s revenue was down 33.1% compared to the same quarter last year. Sell-side analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal 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.