UniSuper Management Pty Ltd Sells 75,000 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

UniSuper Management Pty Ltd lowered its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 11.2% in the 4th quarter, Holdings Channel reports. The firm owned 594,118 shares of the industrial products company’s stock after selling 75,000 shares during the period. UniSuper Management Pty Ltd’s holdings in Energy Recovery were worth $8,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ERII. Vanguard Group Inc. increased its holdings in Energy Recovery by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company’s stock worth $47,810,000 after buying an additional 43,290 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Energy Recovery by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after acquiring an additional 56,306 shares during the last quarter. KBC Group NV grew its stake in shares of Energy Recovery by 0.4% in the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock worth $18,270,000 after acquiring an additional 4,670 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Energy Recovery by 27.8% during 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Energy Recovery by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock valued at $6,989,000 after purchasing an additional 6,834 shares during the period. 83.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ERII. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Scotiabank initiated coverage on Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Trading Down 2.2 %

Shares of ERII stock opened at $16.18 on Friday. Energy Recovery, Inc. has a 12 month low of $12.26 and a 12 month high of $20.27. The stock has a market cap of $889.17 million, a P/E ratio of 47.59 and a beta of 1.21. The company has a 50 day simple moving average of $15.30 and a two-hundred day simple moving average of $16.18.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $67.39 million. As a group, equities analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 50,000 shares of the business’s 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% 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.