Nuveen Asset Management LLC Has $4.24 Million Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Nuveen Asset Management LLC grew its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 22.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 288,693 shares of the industrial products company’s stock after purchasing an additional 52,183 shares during the period. Nuveen Asset Management LLC owned about 0.50% of Energy Recovery worth $4,244,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ERII. Van ECK Associates Corp increased its holdings in shares of Energy Recovery by 1.9% in the 4th quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company’s stock valued at $1,440,000 after purchasing an additional 1,808 shares during the period. Manchester Capital Management LLC increased its holdings in shares of Energy Recovery by 2.9% in the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 830 shares during the period. Baillie Gifford & Co. increased its holdings in Energy Recovery by 27.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock worth $16,462,000 after buying an additional 243,653 shares during the last quarter. Keene & Associates Inc. increased its holdings in Energy Recovery by 15.5% in the fourth quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company’s stock worth $479,000 after buying an additional 4,375 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Energy Recovery by 1.5% in 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 during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Insider Buying and Selling at Energy Recovery

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

Energy Recovery Stock Performance

NASDAQ:ERII opened at $12.60 on Friday. Energy Recovery, Inc. has a 52 week low of $10.86 and a 52 week high of $20.27. The stock’s 50 day moving average price is $14.25 and its 200 day moving average price is $14.99. The company has a market capitalization of $686.69 million, a P/E ratio of 37.06 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results 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 net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $8.07 million for the quarter, compared to analyst estimates of $21.97 million. During the same quarter last year, the business earned ($0.08) EPS. The company’s revenue for the quarter was down 33.1% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ERII has been the topic of a number of research reports. Wall Street Zen downgraded Energy Recovery from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Fearnley Fonds upgraded Energy Recovery from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Finally, B. Riley downgraded Energy Recovery from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $12.50 in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $18.88.

Energy Recovery 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.