UniSuper Management Pty Ltd Sells 378,896 Shares of Energy Recovery, Inc. $ERII

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 lowered its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 63.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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 0.39% of Energy Recovery worth $3,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ERII. Select Equity Group L.P. raised its position in shares of 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 valued at $10,601,000 after buying an additional 534,662 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 valued at $55,534,000 after purchasing an additional 242,494 shares during the last quarter. Nuveen LLC bought a new position in shares of Energy Recovery during the 1st quarter valued at $3,802,000. Raiffeisen Bank International AG bought a new position in shares of Energy Recovery during the 4th quarter valued at $3,459,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Energy Recovery by 3.7% during the 1st quarter. Ameriprise Financial Inc. now owns 5,138,893 shares of the industrial products company's stock valued at $81,657,000 after purchasing an additional 184,942 shares during the last quarter. Hedge funds and other institutional investors own 83.58% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. 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 increased their target price on shares of Energy Recovery from $12.50 to $14.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $18.67.

Insider Transactions at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 5,387 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $13.97, for a total value of $75,256.39. Following the sale, the senior vice president owned 100,765 shares of the company's stock, valued at $1,407,687.05. This trade represents a 5.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

Energy Recovery Price Performance

Energy Recovery stock traded down $0.17 during trading hours on Friday, reaching $14.36. The stock had a trading volume of 258,762 shares, compared to its average volume of 348,342. The stock has a market cap of $763.95 million, a PE ratio of 34.19 and a beta of 1.01. Energy Recovery, Inc. has a 52 week low of $10.86 and a 52 week high of $20.27. The company has a fifty day simple moving average of $13.95 and a 200-day simple moving average of $14.07.

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.