Invesco Ltd. Has $9.60 Million Stock Holdings in Energy Recovery, Inc. $ERII

Key Points

• Invesco Ltd. sold 254,231 shares of Energy Recovery, Inc. (ERII), reducing its position by 29.6%, leaving them with 604,078 shares valued at approximately $9.6 million.
• Various institutional investors have modified their positions in ERII, with ProShare Advisors growing their holdings by 49.1%, while Nebula Research increased theirs by 6.3%.
• Analyst ratings for ERII vary, with a report from B. Riley raising the price target from $12.50 to $14.00 and two analysts giving the stock a Strong Buy rating, contributing to an average target price of $18.67.

Invesco Ltd. lowered its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 29.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 604,078 shares of the industrial products company's stock after selling 254,231 shares during the quarter. Invesco Ltd. owned about 1.10% of Energy Recovery worth $9,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Energy Recovery by 24.6% during the fourth quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company's stock worth $72,823,000 after buying an additional 978,490 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Energy Recovery by 7.5% during the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company's stock worth $55,534,000 after buying an additional 242,494 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Energy Recovery by 13.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 768,091 shares of the industrial products company's stock worth $11,291,000 after buying an additional 89,248 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Energy Recovery by 4.5% during the fourth quarter. Northern Trust Corp now owns 559,587 shares of the industrial products company's stock worth $8,226,000 after buying an additional 24,299 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its holdings in shares of Energy Recovery by 45.8% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 497,169 shares of the industrial products company's stock worth $7,308,000 after buying an additional 156,184 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

Insider Transactions at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 30,000 shares of Energy Recovery stock in a transaction dated 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 owned 655,220 shares in the company, valued at $8,308,189.60. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $13.97, for a total value of $75,256.39. Following the completion of the transaction, the senior vice president owned 100,765 shares in the company, valued at approximately $1,407,687.05. This represents a 5.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,387 shares of company stock worth $710,656. Company insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. B. Riley raised their price target on Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen cut Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $18.67.

Energy Recovery Trading Down 1.4%

Energy Recovery stock traded down $0.20 during midday trading on Friday, reaching $14.21. The company's stock had a trading volume of 210,455 shares, compared to its average volume of 418,014. Energy Recovery, Inc. has a 52 week low of $10.86 and a 52 week high of $20.27. The business has a 50-day moving average price of $13.60 and a 200-day moving average price of $14.13. The stock has a market cap of $755.97 million, a PE ratio of 33.83 and a beta of 1.03.

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.