Aviva PLC Acquires 11,530 Shares of Energy Recovery, Inc. $ERII

Aviva PLC boosted its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 44.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 37,412 shares of the industrial products company’s stock after buying an additional 11,530 shares during the period. Aviva PLC owned approximately 0.07% of Energy Recovery worth $478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new stake in shares of Energy Recovery in the second quarter valued at $37,000. FNY Investment Advisers LLC purchased a new stake in Energy Recovery in the 2nd quarter worth about $80,000. Russell Investments Group Ltd. lifted its stake in Energy Recovery by 5,662.3% in the first quarter. Russell Investments Group Ltd. now owns 8,701 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 8,550 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Energy Recovery during the first quarter valued at approximately $162,000. Finally, Magnetar Financial LLC bought a new position in shares of Energy Recovery during the first quarter valued at approximately $223,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Stock Performance

NASDAQ ERII opened at $14.53 on Friday. The company has a market cap of $769.68 million, a PE ratio of 34.60 and a beta of 1.10. The firm’s 50 day moving average price is $15.66 and its 200-day moving average price is $14.18. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $19.32.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Energy Recovery had a return on equity of 11.67% and a net margin of 17.02%.The company had revenue of $32.00 million during the quarter, compared to analyst estimates of $29.94 million. Energy Recovery has set its FY 2025 guidance at EPS. On average, analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Energy Recovery in a research note on Tuesday, October 14th. CJS Securities began coverage on Energy Recovery in a research report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 target price for the company. B. Riley reissued a “neutral” rating on shares of Energy Recovery in a research note on Thursday, November 6th. Finally, Loop Capital set a $18.20 price target on shares of Energy Recovery in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $18.64.

Insider Activity

In related news, insider William Yeung sold 33,554 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $14.51, for a total transaction of $486,868.54. Following the completion of the transaction, the insider owned 97,369 shares in the company, valued at $1,412,824.19. The trade was a 25.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 72,333 shares of company stock valued at $1,122,195. 3.20% of the stock is owned by 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.