Ameriprise Financial Inc. Raises Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Ameriprise Financial Inc. lifted its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 24.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,953,951 shares of the industrial products company's stock after purchasing an additional 978,490 shares during the quarter. Ameriprise Financial Inc. owned about 8.56% of Energy Recovery worth $72,823,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nebula Research & Development LLC grew its stake in Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock valued at $170,000 after acquiring an additional 687 shares during the period. Manchester Capital Management LLC grew its stake in 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 acquiring an additional 830 shares during the period. DnB Asset Management AS grew its stake in Energy Recovery by 2.9% in the 4th quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company's stock valued at $550,000 after acquiring an additional 1,050 shares during the period. Nordea Investment Management AB grew its stake in Energy Recovery by 1.3% in the 4th quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company's stock valued at $1,859,000 after acquiring an additional 1,618 shares during the period. Finally, Van ECK Associates Corp grew its stake in 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 acquiring an additional 1,808 shares during the period. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Stock Performance

Shares of NASDAQ ERII traded up $0.02 during trading on Tuesday, hitting $12.26. 575,575 shares of the company were exchanged, compared to its average volume of 414,325. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27. The company has a fifty day moving average price of $15.29 and a 200-day moving average price of $15.57. The firm has a market capitalization of $671.31 million, a PE ratio of 36.06 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted 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). The company had revenue of $8.07 million for the quarter, compared to analysts' expectations of $21.97 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm's revenue was down 33.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) EPS. Research analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the business's 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 directly owns 693,182 shares in the company, valued at $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 is available at the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. This trade represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% 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.