Energy Recovery, Inc. $ERII Shares Sold by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd significantly reduced its stake in Energy Recovery, Inc. by 63.8%, now holding shares valued at $3.42 million.
• Institutional ownership remains high, with approximately 83.58% of the stock held by institutional investors and hedge funds.
• Analysts have upgraded Energy Recovery's stock rating, with the average target price set at $18.67 following several recent upgrades.

UniSuper Management Pty Ltd trimmed its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 63.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,222 shares of the industrial products company's stock after selling 378,896 shares during the quarter. UniSuper Management Pty Ltd owned approximately 0.39% of Energy Recovery worth $3,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ERII. Select Equity Group L.P. raised its stake in Energy Recovery by 403.5% during the 1st quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company's stock worth $10,601,000 after acquiring an additional 534,662 shares in the last quarter. Vanguard Group Inc. grew its position in Energy Recovery by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company's stock worth $55,534,000 after purchasing an additional 242,494 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Energy Recovery in the first quarter valued at about $3,802,000. Raiffeisen Bank International AG purchased a new stake in shares of Energy Recovery in the fourth quarter valued at about $3,459,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Energy Recovery by 3.7% in the first quarter. Ameriprise Financial Inc. now owns 5,138,893 shares of the industrial products company's stock valued at $81,657,000 after acquiring an additional 184,942 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Price Performance

ERII traded down $0.17 during midday trading on Friday, reaching $14.36. 258,762 shares of the company's stock were exchanged, compared to its average volume of 354,270. The stock has a market capitalization of $763.95 million, a PE ratio of 34.19 and a beta of 1.01. The business's 50-day moving average price is $13.95 and its 200 day moving average price is $14.08. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $20.27.

Wall Street Analyst Weigh In

ERII has been the topic of a number of research analyst reports. Fearnley Fonds raised shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. B. Riley boosted their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $18.67.

Insider Transactions at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of Energy Recovery stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $13.97, for a total transaction of $75,256.39. Following the completion of the transaction, the senior vice president owned 100,765 shares in the company, valued at approximately $1,407,687.05. The trade was a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.20% 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.