New York State Common Retirement Fund boosted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) by 33.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 745,853 shares of the industrial products company's stock after purchasing an additional 185,163 shares during the quarter. New York State Common Retirement Fund owned about 1.32% of Energy Recovery worth $14,052,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Energy Recovery by 376.4% during the 3rd quarter. FMR LLC now owns 3,910,978 shares of the industrial products company's stock valued at $82,952,000 after acquiring an additional 3,090,086 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Energy Recovery during the 4th quarter valued at about $6,991,000. Essex Investment Management Co. LLC boosted its holdings in shares of Energy Recovery by 30.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 378,234 shares of the industrial products company's stock valued at $8,022,000 after acquiring an additional 87,690 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Energy Recovery by 40.3% during the 3rd quarter. Raymond James & Associates now owns 297,886 shares of the industrial products company's stock valued at $6,318,000 after acquiring an additional 85,544 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Energy Recovery during the 3rd quarter valued at about $1,696,000. 83.58% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Energy Recovery
In other Energy Recovery news, Director Robert Yu Lang Mao sold 38,025 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.21, for a total transaction of $616,385.25. Following the completion of the sale, the director now owns 176,112 shares of the company's stock, valued at $2,854,775.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert Yu Lang Mao sold 38,025 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.21, for a total value of $616,385.25. Following the transaction, the director now directly owns 176,112 shares in the company, valued at $2,854,775.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David W. Moon acquired 10,750 shares of the stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average price of $15.51 per share, for a total transaction of $166,732.50. Following the completion of the transaction, the chief executive officer now directly owns 19,250 shares of the company's stock, valued at $298,567.50. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 93,913 shares of company stock valued at $1,478,808. Company insiders own 4.70% of the company's stock.
Analyst Ratings Changes
Separately, Evercore ISI dropped their price target on shares of Energy Recovery from $26.00 to $24.00 and set an "outperform" rating on the stock in a report on Wednesday, February 28th.
View Our Latest Research Report on ERII
Energy Recovery Price Performance
Shares of NASDAQ:ERII traded up $0.04 during midday trading on Tuesday, hitting $14.90. The company had a trading volume of 396,958 shares, compared to its average volume of 447,214. The company has a fifty day moving average of $14.91 and a two-hundred day moving average of $16.67. Energy Recovery, Inc. has a 12-month low of $13.41 and a 12-month high of $30.76. The company has a market cap of $854.22 million, a price-to-earnings ratio of 40.16 and a beta of 1.27.
Energy Recovery (NASDAQ:ERII - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Energy Recovery had a net margin of 16.75% and a return on equity of 11.99%. The company had revenue of $57.19 million for the quarter, compared to the consensus estimate of $63.57 million. During the same period in the prior year, the firm posted $0.24 EPS. The business's revenue for the quarter was up 35.2% on a year-over-year basis. Research analysts expect that Energy Recovery, Inc. will post 0.42 earnings per share for the current fiscal year.
Energy Recovery Profile
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Free Report)
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.
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