34,341 Shares in Energy Recovery, Inc. (NASDAQ:ERII) Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC acquired a new stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,341 shares of the industrial products company's stock, valued at approximately $503,000. Lazard Asset Management LLC owned approximately 0.06% of Energy Recovery at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ERII. Ameriprise Financial Inc. boosted its stake in Energy Recovery by 24.6% in the fourth quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company's stock valued at $72,823,000 after acquiring an additional 978,490 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Energy Recovery in the fourth quarter valued at $5,741,000. KLP Kapitalforvaltning AS acquired a new position in Energy Recovery in the fourth quarter valued at $4,670,000. Duff & Phelps Investment Management Co. acquired a new position in Energy Recovery in the fourth quarter valued at $3,798,000. Finally, Baillie Gifford & Co. boosted its stake in Energy Recovery by 27.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock valued at $16,462,000 after acquiring an additional 243,653 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company's stock.

Analyst Upgrades and Downgrades

ERII has been the subject of several research analyst reports. Fearnley Fonds upgraded shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Wall Street Zen downgraded shares of Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, B. Riley downgraded shares of 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 research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $18.88.

Insider Activity

In other news, Director Arve Hanstveit sold 50,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the sale, the director now directly owns 693,182 shares of the company's stock, valued at approximately $11,326,593.88. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela L. Tondreau purchased 4,200 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average cost of $12.28 per share, with a total value of $51,576.00. Following the completion of the acquisition, the director now directly owns 41,043 shares of the company's stock, valued at $504,008.04. This represents a 11.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.10% of the company's stock.

Energy Recovery Price Performance

Shares of NASDAQ:ERII traded up $0.07 on Tuesday, reaching $12.63. The company's stock had a trading volume of 411,975 shares, compared to its average volume of 423,928. The stock's 50-day moving average is $14.50 and its two-hundred day moving average is $15.13. Energy Recovery, Inc. has a 52-week low of $10.86 and a 52-week high of $20.27. The stock has a market capitalization of $688.32 million, a P/E ratio of 37.15 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business had revenue of $8.07 million during the quarter, compared to analysts' expectations of $21.97 million. During the same period in the previous year, the company posted ($0.08) earnings per share. Energy Recovery's quarterly revenue was down 33.1% on a year-over-year basis. Equities analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

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.