Charles Schwab Investment Management Inc. Increases Position in Energy Recovery, Inc. (NASDAQ:ERII)

Charles Schwab Investment Management Inc. lifted its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 1.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 475,473 shares of the industrial products company’s stock after acquiring an additional 6,834 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Energy Recovery were worth $6,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Manchester Capital Management LLC boosted its stake in shares of Energy Recovery by 2.9% in the 4th quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock worth $429,000 after buying an additional 830 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Energy Recovery by 1.3% in the 4th quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company’s stock worth $1,859,000 after purchasing an additional 1,618 shares during the period. Van ECK Associates Corp raised its holdings in shares of Energy Recovery by 1.9% in the 4th 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. HighTower Advisors LLC raised its holdings in shares of Energy Recovery by 10.6% in the 3rd quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company’s stock worth $578,000 after purchasing an additional 3,176 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Energy Recovery by 14.8% in the 4th quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 3,594 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Insider Buying and Selling

In related news, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the transaction, the director now directly owns 693,182 shares in the company, valued at approximately $11,326,593.88. The trade was a 6.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Scotiabank assumed coverage on shares of Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 target price on the stock. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $20.75.

Energy Recovery Price Performance

Shares of ERII stock opened at $16.11 on Monday. The stock has a market capitalization of $885.33 million, a price-to-earnings ratio of 47.38 and a beta of 1.21. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27. The company’s fifty day simple moving average is $15.12 and its two-hundred day simple moving average is $16.15.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $67.08 million during the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current year.

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.