Nuveen Asset Management LLC Boosts Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Nuveen Asset Management LLC boosted its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 288,693 shares of the industrial products company's stock after buying an additional 52,183 shares during the period. Nuveen Asset Management LLC owned approximately 0.50% of Energy Recovery worth $4,244,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Nebula Research & Development LLC boosted its holdings in shares of 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 worth $170,000 after purchasing an additional 687 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of 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 worth $429,000 after purchasing an additional 830 shares in the last quarter. DnB Asset Management AS boosted its holdings in shares of 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 worth $550,000 after purchasing an additional 1,050 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of 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 worth $1,440,000 after purchasing an additional 1,808 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in shares of Energy Recovery by 6.0% in the 4th quarter. MetLife Investment Management LLC now owns 34,130 shares of the industrial products company's stock worth $502,000 after purchasing an additional 1,924 shares in the last quarter. Institutional investors own 83.58% of the company's stock.

Insider Buying and Selling at Energy Recovery

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

Energy Recovery Stock Down 0.2%

Shares of NASDAQ ERII traded down $0.03 during midday trading on Wednesday, reaching $12.53. The company had a trading volume of 332,010 shares, compared to its average volume of 427,294. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $20.27. The firm's fifty day moving average price is $14.03 and its 200-day moving average price is $14.88. The stock has a market cap of $682.87 million, a PE ratio of 36.85 and a beta of 1.09.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. B. Riley cut Energy Recovery from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $20.00 to $12.50 in a report on Thursday, May 8th. Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, Wall Street Zen cut Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $18.88.

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.