10,873 Shares in Energy Recovery, Inc. (NASDAQ:ERII) Purchased by Schroder Investment Management Group

Schroder Investment Management Group acquired a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,873 shares of the industrial products company’s stock, valued at approximately $160,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ERII. Raymond James Financial Inc. purchased a new stake in shares of Energy Recovery during the 4th quarter valued at approximately $5,741,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Energy Recovery during the fourth quarter worth $4,670,000. Duff & Phelps Investment Management Co. bought a new position in shares of Energy Recovery in the fourth quarter worth $3,798,000. Baillie Gifford & Co. grew its position in shares of Energy Recovery by 27.8% in the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock valued at $16,462,000 after purchasing an additional 243,653 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Energy Recovery by 66.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock valued at $4,780,000 after purchasing an additional 109,847 shares during the period. Institutional investors own 83.58% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $20.75.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the sale, the director now owns 693,182 shares in the company, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

Energy Recovery Stock Performance

Energy Recovery stock opened at $14.31 on Wednesday. The stock has a market cap of $786.41 million, a P/E ratio of 42.09 and a beta of 1.05. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The firm’s fifty day moving average price is $15.40 and its 200-day moving average price is $16.12.

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). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business had revenue of $67.08 million during the quarter, compared to analysts’ expectations of $67.39 million. Sell-side analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share 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.