Vanguard Group Inc. Has $55.53 Million Stock Position in Energy Recovery, Inc. $ERII

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. grew its stake in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,494,872 shares of the industrial products company's stock after purchasing an additional 242,494 shares during the period. Vanguard Group Inc. owned approximately 6.38% of Energy Recovery worth $55,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Juncture Wealth Strategies LLC bought a new stake in Energy Recovery during the 1st quarter worth approximately $178,000. Nebula Research & Development LLC grew its position in Energy Recovery by 6.3% during the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company's stock worth $170,000 after acquiring an additional 687 shares during the last quarter. Clear Creek Financial Management LLC grew its position in Energy Recovery by 5.9% during the 1st quarter. Clear Creek Financial Management LLC now owns 15,250 shares of the industrial products company's stock worth $242,000 after acquiring an additional 850 shares during the last quarter. Two Sigma Investments LP bought a new stake in Energy Recovery during the 4th quarter worth approximately $229,000. Finally, ProShare Advisors LLC grew its position in Energy Recovery by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 15,993 shares of the industrial products company's stock worth $235,000 after acquiring an additional 5,264 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Stock Down 1.4%

NASDAQ:ERII traded down $0.20 during trading hours on Friday, hitting $14.21. 210,455 shares of the stock were exchanged, compared to its average volume of 400,240. The company's 50 day moving average is $13.60 and its two-hundred day moving average is $14.12. Energy Recovery, Inc. has a twelve month low of $10.86 and a twelve month high of $20.27. The company has a market capitalization of $755.97 million, a P/E ratio of 33.83 and a beta of 1.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. B. Riley increased 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. Finally, Wall Street Zen lowered Energy Recovery from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued 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.

Insider Buying and Selling at Energy Recovery

In other news, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arve Hanstveit sold 30,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $12.68, for a total value of $380,400.00. Following the completion of the transaction, the director directly owned 655,220 shares in the company, valued at approximately $8,308,189.60. This trade represents a 4.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,387 shares of company stock worth $710,656. Company insiders own 3.20% of the company's stock.

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.