Energy Recovery, Inc. $ERII Shares Acquired by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors LLC increased its holdings in Energy Recovery, Inc. by 25.6%, owning 112,420 shares valued at approximately $1.44 million as of its latest SEC filing.
• Institutional investors collectively own 83.58% of Energy Recovery's stock, with significant increases in holdings reported by Ameriprise Financial, Vanguard Group, and Select Equity Group.
• Energy Recovery's stock has a market capitalization of $891.63 million, with shares trading at around $16.76, and its average rating among analysts is a "Buy" based on a consensus target price of $18.75.

Conestoga Capital Advisors LLC grew its holdings in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 25.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,420 shares of the industrial products company's stock after buying an additional 22,895 shares during the period. Conestoga Capital Advisors LLC owned 0.21% of Energy Recovery worth $1,437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Ameriprise Financial Inc. grew its holdings in shares of Energy Recovery by 3.7% in the first quarter. Ameriprise Financial Inc. now owns 5,138,893 shares of the industrial products company's stock valued at $81,657,000 after purchasing an additional 184,942 shares during the period. Vanguard Group Inc. grew its holdings in shares of Energy Recovery by 7.5% in the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company's stock valued at $55,534,000 after purchasing an additional 242,494 shares during the period. Select Equity Group L.P. grew its holdings in shares of Energy Recovery by 403.5% in the first quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company's stock valued at $10,601,000 after purchasing an additional 534,662 shares during the period. KLP Kapitalforvaltning AS grew its holdings in shares of Energy Recovery by 33.0% in the second quarter. KLP Kapitalforvaltning AS now owns 411,911 shares of the industrial products company's stock valued at $5,264,000 after purchasing an additional 102,311 shares during the period. Finally, Kopion Asset Management LLC purchased a new stake in shares of Energy Recovery in the second quarter valued at about $3,870,000. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Stock Performance

Shares of ERII opened at $16.76 on Monday. The stock has a market capitalization of $891.63 million, a PE ratio of 39.91 and a beta of 1.02. Energy Recovery, Inc. has a 1 year low of $10.86 and a 1 year high of $20.27. The company's 50-day simple moving average is $14.91 and its 200-day simple moving average is $13.97.

Insider Activity

In related news, SVP Rodney Clemente sold 5,387 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $13.97, for a total value of $75,256.39. Following the sale, the senior vice president owned 100,765 shares of the company's stock, valued at $1,407,687.05. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Yeung sold 3,530 shares of the firm's stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $16.50, for a total transaction of $58,245.00. Following the completion of the sale, the insider directly owned 97,369 shares in the company, valued at approximately $1,606,588.50. This trade represents a 3.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,492 shares of company stock worth $910,643 in the last three months. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ERII. Weiss Ratings reissued a "hold (c)" rating on shares of Energy Recovery in a report on Tuesday, October 14th. CJS Securities began coverage on shares of Energy Recovery in a report on Tuesday, September 16th. They issued a "market outperform" rating and a $19.00 price objective for the company. Finally, B. Riley upped their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $18.75.

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.

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