UniSuper Management Pty Ltd Cuts Stake in Energy Recovery, Inc. (NASDAQ:ERII)

UniSuper Management Pty Ltd cut its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 594,118 shares of the industrial products company’s stock after selling 75,000 shares during the quarter. UniSuper Management Pty Ltd owned 1.03% of Energy Recovery worth $8,734,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ERII. Vanguard Group Inc. raised its position 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 purchasing an additional 43,290 shares during the period. Geode Capital Management LLC increased its holdings in shares of Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock worth $23,631,000 after buying an additional 56,306 shares during the period. KBC Group NV lifted its stake in shares of Energy Recovery by 0.4% in the 4th quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock valued at $18,270,000 after acquiring an additional 4,670 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Energy Recovery by 27.8% during the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock valued at $16,462,000 after acquiring an additional 243,653 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Energy Recovery by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock worth $6,989,000 after acquiring an additional 6,834 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors.

Energy Recovery Stock Performance

Shares of ERII stock opened at $16.18 on Friday. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The firm has a market cap of $889.17 million, a P/E ratio of 47.59 and a beta of 1.21. The business’s 50 day moving average price is $15.30 and its 200-day moving average price is $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 company had revenue of $67.08 million for the quarter, compared to analysts’ expectations of $67.39 million. As a group, equities analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Scotiabank initiated coverage on Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Two equities research 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.75.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the sale, the director now directly owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. The trade was a 6.73 % decrease in their ownership of the stock. The transaction 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 on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares in the company, valued at approximately $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. 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.