Energy Recovery, Inc. $ERII Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 7.5%, owning approximately 3.49 million shares worth $55.5 million by the end of the 1st quarter.
• Analysts generally have a favorable outlook on ERII, with a consensus rating of "Buy" and a target price of $18.67, despite mixed ratings from various research firms.
• Recent insider transactions have seen significant share sales, including SVP Rodney Clemente selling 5,387 shares, reflecting a 5.07% decrease in his ownership.

Vanguard Group Inc. lifted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 7.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,494,872 shares of the industrial products company's stock after buying an additional 242,494 shares during the quarter. Vanguard Group Inc. owned approximately 6.38% of Energy Recovery worth $55,534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Cary Street Partners Financial LLC acquired a new position in shares of Energy Recovery in the first quarter valued at approximately $540,000. Raiffeisen Bank International AG boosted its position in 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 acquiring an additional 10,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in Energy Recovery during the first quarter worth approximately $374,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Energy Recovery during the first quarter worth approximately $379,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Energy Recovery during the first quarter worth approximately $443,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ERII shares. Fearnley Fonds upgraded shares of Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. Wall Street Zen cut Energy Recovery from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, B. Riley lifted their price target on 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 given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Energy Recovery has an average rating of "Buy" and a consensus price target of $18.67.

Energy Recovery Stock Performance

Shares of NASDAQ:ERII traded down $0.20 during trading on Friday, reaching $14.21. 210,455 shares of the stock were exchanged, compared to its average volume of 419,517. Energy Recovery, Inc. has a 12-month low of $10.86 and a 12-month high of $20.27. The firm has a market cap of $755.97 million, a price-to-earnings ratio of 33.83 and a beta of 1.03. The firm's 50-day moving average price is $13.56 and its 200 day moving average price is $14.14.

Insider Transactions at Energy Recovery

In related news, SVP Rodney Clemente sold 5,387 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 100,765 shares of the company's stock, valued at approximately $1,407,687.05. The trade was a 5.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arve Hanstveit sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $12.68, for a total value of $380,400.00. Following the transaction, the director directly owned 655,220 shares in the company, valued at $8,308,189.60. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,387 shares of company stock valued at $710,656 in the last quarter. Company insiders own 3.20% of the company's stock.

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.