Marshall Wace LLP Buys Shares of 177,630 Energy Recovery, Inc. (NASDAQ:ERII)

Marshall Wace LLP purchased a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 177,630 shares of the industrial products company's stock, valued at approximately $2,611,000. Marshall Wace LLP owned 0.31% of Energy Recovery at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of Energy Recovery by 376.6% in the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company's stock valued at $1,681,000 after purchasing an additional 76,393 shares in the last quarter. Geode Capital Management LLC raised its stake in Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company's stock valued at $23,631,000 after buying an additional 56,306 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Energy Recovery by 66.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company's stock worth $4,780,000 after buying an additional 109,847 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Energy Recovery by 1.3% during the 4th quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company's stock worth $1,859,000 after buying an additional 1,618 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Energy Recovery by 8.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 150,559 shares of the industrial products company's stock worth $2,213,000 after acquiring an additional 12,330 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Energy Recovery from a "hold" rating to a "buy" rating in a research note 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $20.75.

Insider Activity

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

Energy Recovery Stock Performance

ERII traded up $0.34 during trading on Friday, reaching $15.92. The company's stock had a trading volume of 38,575 shares, compared to its average volume of 366,030. The company's fifty day moving average price is $15.45 and its 200-day moving average price is $15.82. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27. The company has a market capitalization of $871.50 million, a price-to-earnings ratio of 46.88 and a beta of 1.05.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $67.08 million for the quarter, compared to analyst estimates of $67.39 million. Equities analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

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.