Select Equity Group L.P. Has $10.60 Million Stock Holdings in Energy Recovery, Inc. $ERII

Select Equity Group L.P. lifted its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 403.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 667,157 shares of the industrial products company's stock after acquiring an additional 534,662 shares during the quarter. Select Equity Group L.P. owned 1.22% of Energy Recovery worth $10,601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Energy Recovery by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company's stock valued at $714,000 after purchasing an additional 3,185 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Energy Recovery during the 1st quarter valued at approximately $341,000. Royal Bank of Canada boosted its position in Energy Recovery by 43.1% during the 1st quarter. Royal Bank of Canada now owns 16,257 shares of the industrial products company's stock valued at $258,000 after purchasing an additional 4,899 shares during the period. Graham Capital Management L.P. boosted its position in Energy Recovery by 7.9% during the 1st quarter. Graham Capital Management L.P. now owns 43,881 shares of the industrial products company's stock valued at $697,000 after purchasing an additional 3,206 shares during the period. Finally, Magnetar Financial LLC acquired a new position in Energy Recovery during the 1st quarter valued at approximately $223,000. Institutional investors and hedge funds own 83.58% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ERII shares. Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. B. Riley boosted 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. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $18.67.

Energy Recovery Price Performance

Shares of Energy Recovery stock traded down $0.17 during trading on Friday, hitting $14.36. The stock had a trading volume of 258,762 shares, compared to its average volume of 354,270. The business has a fifty day moving average of $13.95 and a two-hundred day moving average of $14.08. The firm has a market cap of $763.95 million, a P/E ratio of 34.19 and a beta of 1.01. Energy Recovery, Inc. has a fifty-two week low of $10.86 and a fifty-two week high of $20.27.

Insider Activity

In other news, SVP Rodney Clemente sold 5,387 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.97, for a total transaction of $75,256.39. Following the sale, the senior vice president directly owned 100,765 shares of the company's stock, valued at $1,407,687.05. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is owned by company insiders.

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.