Wellington Management Group LLP Sells 130,887 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Wellington Management Group LLP decreased its position in Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 47.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,024 shares of the industrial products company's stock after selling 130,887 shares during the period. Wellington Management Group LLP owned 0.27% of Energy Recovery worth $2,147,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of Energy Recovery by 1.9% during the fourth quarter. Van ECK Associates Corp now owns 97,985 shares of the industrial products company's stock worth $1,440,000 after purchasing an additional 1,808 shares during the period. Manchester Capital Management LLC lifted its position in shares of Energy Recovery by 2.9% during the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company's stock valued at $429,000 after acquiring an additional 830 shares during the period. Baillie Gifford & Co. lifted its position in shares of Energy Recovery by 27.8% during the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company's stock worth $16,462,000 after buying an additional 243,653 shares during the last quarter. Keene & Associates Inc. lifted its position in shares of Energy Recovery by 15.5% during the 4th quarter. Keene & Associates Inc. now owns 32,604 shares of the industrial products company's stock worth $479,000 after buying an additional 4,375 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Energy Recovery by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company's stock worth $6,989,000 after purchasing an additional 6,834 shares in the last quarter. Institutional investors own 83.58% of the company's stock.

Energy Recovery Price Performance

Shares of Energy Recovery stock traded up $0.17 on Friday, hitting $12.63. 292,822 shares of the company's stock traded hands, compared to its average volume of 425,210. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $20.27. The company has a fifty day moving average of $13.89 and a two-hundred day moving average of $14.84. The company has a market capitalization of $688.32 million, a price-to-earnings ratio of 37.15 and a beta of 1.02.

Energy Recovery (NASDAQ:ERII - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $8.07 million during the quarter, compared to the consensus estimate of $21.97 million. During the same quarter in the prior year, the business earned ($0.08) EPS. The firm's revenue for the quarter was down 33.1% compared to the same quarter last year. Equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Insider Activity at Energy Recovery

In related news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the sale, the director now directly owns 693,182 shares of the company's stock, valued at approximately $11,326,593.88. This trade represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela L. Tondreau purchased 4,200 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $12.28 per share, with a total value of $51,576.00. Following the completion of the transaction, the director now directly owns 41,043 shares of the company's stock, valued at $504,008.04. The trade was a 11.40% increase in their position. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. B. Riley cut Energy Recovery from a "buy" rating to a "neutral" rating and decreased their price target for the company from $20.00 to $12.50 in a research note on Thursday, May 8th. Fearnley Fonds upgraded Energy Recovery from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 20th. 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 hold rating, two have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $18.88.

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.