FIL Ltd Trims Stake in Energy Recovery, Inc. (NASDAQ:ERII)

FIL Ltd lessened its position in Energy Recovery, Inc. (NASDAQ:ERII) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,084,877 shares of the industrial products company’s stock after selling 123,036 shares during the quarter. FIL Ltd owned approximately 3.60% of Energy Recovery worth $30,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Avanza Fonder AB purchased a new position in Energy Recovery during the fourth quarter valued at $107,000. Schroder Investment Management Group bought a new stake in Energy Recovery during the fourth quarter worth about $160,000. Polymer Capital Management US LLC purchased a new stake in Energy Recovery in the fourth quarter worth about $211,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Energy Recovery during the fourth quarter valued at approximately $234,000. Finally, Martin Currie Ltd. boosted its position in shares of Energy Recovery by 53.7% in the 4th quarter. Martin Currie Ltd. now owns 18,305 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 6,394 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Energy Recovery Price Performance

ERII stock opened at $14.60 on Friday. The stock has a market capitalization of $802.34 million, a P/E ratio of 42.94 and a beta of 1.05. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The business has a fifty day moving average price of $15.43 and a 200-day moving average price of $16.08.

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

Insider Buying and Selling at Energy Recovery

In other news, Director Arve Hanstveit sold 50,000 shares of the 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 sale, the director now directly owns 693,182 shares of the company’s stock, valued at $11,326,593.88. This represents a 6.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. The trade was 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.

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.