Northern Trust Corp Boosts Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Northern Trust Corp grew its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 559,587 shares of the industrial products company's stock after purchasing an additional 24,299 shares during the period. Northern Trust Corp owned about 0.97% of Energy Recovery worth $8,226,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its holdings 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 during the period. Avanza Fonder AB bought a new stake in Energy Recovery during the fourth quarter worth $107,000. SG Americas Securities LLC boosted its holdings in shares of Energy Recovery by 552.4% in the 4th quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company's stock valued at $1,563,000 after purchasing an additional 90,008 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Energy Recovery by 14.8% during the 4th quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company's stock worth $409,000 after buying an additional 3,594 shares during the last quarter. Finally, KBC Group NV boosted its stake in Energy Recovery by 0.4% in the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company's stock valued at $18,270,000 after buying an additional 4,670 shares in the last quarter. 83.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on ERII shares. Wall Street Zen downgraded Energy Recovery from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Fearnley Fonds upgraded shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, B. Riley cut shares of Energy Recovery from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $20.00 to $12.50 in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $18.88.

Energy Recovery Trading Up 0.9%

ERII traded up $0.11 on Friday, reaching $12.56. The stock had a trading volume of 423,207 shares, compared to its average volume of 423,976. The company has a market capitalization of $684.51 million, a price-to-earnings ratio of 36.94 and a beta of 1.09. Energy Recovery, Inc. has a fifty-two week low of $10.86 and a fifty-two week high of $20.27. The firm has a 50-day moving average of $14.65 and a 200-day moving average of $15.23.

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

Insider Activity

In related news, Director Pamela L. Tondreau acquired 4,200 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average cost of $12.28 per share, with a total value of $51,576.00. Following the completion of the purchase, the director now directly owns 41,043 shares in the company, valued at $504,008.04. The trade was a 11.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Arve Hanstveit sold 50,000 shares of the 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 owns 693,182 shares in the company, valued at approximately $11,326,593.88. The trade was a 6.73% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

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.