Teacher Retirement System of Texas Acquires New Position in Energy Recovery, Inc. (NASDAQ:ERII)

Teacher Retirement System of Texas purchased a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,074 shares of the industrial products company’s stock, valued at approximately $430,000.

Several other large investors also recently bought and sold shares of the company. Bank of Montreal Can lifted its position in shares of Energy Recovery by 99.0% in the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $6,989,000 after acquiring an additional 6,834 shares during the period. Rhumbline Advisers increased its stake in Energy Recovery by 7.5% in the 1st quarter. Rhumbline Advisers now owns 83,125 shares of the industrial products company’s stock valued at $1,321,000 after buying an additional 5,781 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Energy Recovery by 9.6% in 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 during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Energy Recovery in the fourth quarter worth about $860,000. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Stock Performance

NASDAQ:ERII opened at $13.65 on Friday. The business’s fifty day moving average is $12.64 and its 200 day moving average is $14.26. The firm has a market cap of $743.93 million, a price-to-earnings ratio of 36.89 and a beta of 1.01. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.16). The company had revenue of $8.07 million for the quarter, compared to analysts’ expectations of $21.97 million. Energy Recovery had a net margin of 15.21% and a return on equity of 9.96%. The company’s revenue was down 33.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Equities analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ERII. B. Riley lowered Energy Recovery from a “buy” rating to a “neutral” rating and cut their target price for the company from $20.00 to $12.50 in a research note 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, Wall Street Zen downgraded shares of Energy Recovery from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Energy Recovery has a consensus rating of “Buy” and an average target price of $18.17.

Insider Buying and Selling

In other news, Director Arve Hanstveit sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $12.68, for a total value of $380,400.00. Following the transaction, the director directly owned 655,220 shares in the company, valued at $8,308,189.60. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David W. Moon acquired 4,200 shares of Energy Recovery stock in a transaction dated Tuesday, May 13th. The stock was bought at an average price of $12.20 per share, with a total value of $51,240.00. Following the completion of the purchase, the chief executive officer directly owned 36,950 shares in the company, valued at $450,790. This represents a 12.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.20% of the stock is owned by insiders.

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.