Nuveen LLC Makes New Investment in Energy Recovery, Inc. $ERII

Key Points

• Nuveen LLC has acquired a new position in Energy Recovery, Inc. (NASDAQ:ERII), purchasing 239,242 shares valued at approximately $3.8 million, representing about 0.44% of the company.
• Energy Recovery's stock has shown volatility, with a fifty-two week low of $10.86 and a high of $20.27, currently trading at $14.57.
• Analysts have recently updated ratings and price targets for Energy Recovery, with Wall Street Zen downgrading the stock from "buy" to "hold," while Fearnley Fonds upgraded it to a "strong-buy."

Nuveen LLC bought a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 239,242 shares of the industrial products company's stock, valued at approximately $3,802,000. Nuveen LLC owned 0.44% of Energy Recovery as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ERII. 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 during the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of Energy Recovery during the first quarter worth approximately $540,000. Raiffeisen Bank International AG lifted its holdings in shares of Energy Recovery by 4.3% during the first quarter. Raiffeisen Bank International AG now owns 245,000 shares of the industrial products company's stock worth $3,908,000 after buying an additional 10,000 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Energy Recovery during the first quarter worth approximately $374,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Energy Recovery during the first quarter worth approximately $379,000. Institutional investors own 83.58% of the company's stock.

Energy Recovery Price Performance

Shares of NASDAQ ERII traded up $0.13 during trading hours on Tuesday, reaching $14.34. The stock had a trading volume of 438,923 shares, compared to its average volume of 383,327. The business's fifty day moving average is $13.68 and its two-hundred day moving average is $14.11. The company has a market cap of $762.89 million, a price-to-earnings ratio of 34.14 and a beta of 1.01. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27.

Insiders Place Their Bets

In other Energy Recovery news, Director Arve Hanstveit sold 30,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $12.68, for a total transaction of $380,400.00. Following the completion of the transaction, the director directly owned 655,220 shares in the company, valued at $8,308,189.60. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rodney Clemente sold 5,387 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.97, for a total value of $75,256.39. Following the transaction, the senior vice president owned 100,765 shares of the company's stock, valued at $1,407,687.05. This represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,387 shares of company stock valued at $710,656 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.