Candriam S.C.A. Grows Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Candriam S.C.A. lifted its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 7.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 162,976 shares of the industrial products company’s stock after acquiring an additional 10,744 shares during the quarter. Candriam S.C.A.’s holdings in Energy Recovery were worth $2,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV grew its position in shares of Energy Recovery by 14.1% in the 3rd quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock worth $21,533,000 after buying an additional 153,381 shares during the period. Geode Capital Management LLC grew its position in shares of Energy Recovery by 4.3% in the 3rd 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. Barclays PLC grew its position in shares of Energy Recovery by 376.6% in the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after buying an additional 76,393 shares during the period. Baillie Gifford & Co. purchased a new stake in shares of Energy Recovery in the 3rd quarter worth about $15,237,000. Finally, Summit Global Investments purchased a new stake in shares of Energy Recovery in the 3rd quarter worth about $939,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Energy Recovery

In other news, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the transaction, the senior vice president now owns 111,109 shares in the company, valued at $1,713,300.78. This represents a 16.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the transaction, the director now owns 743,182 shares in the company, valued at $12,537,480.34. This trade represents a 2.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Energy Recovery Stock Up 4.5 %

Shares of NASDAQ ERII opened at $16.37 on Monday. The firm’s 50-day moving average price is $14.83 and its 200-day moving average price is $16.19. The company has a market cap of $899.61 million, a PE ratio of 48.15 and a beta of 1.21. Energy Recovery, Inc. has a 52-week low of $12.26 and a 52-week high of $20.27.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results 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). The company had revenue of $67.08 million for the quarter, compared to analysts’ expectations of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. As a group, equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. B. Riley cut their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Evercore ISI cut their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Scotiabank assumed coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Two investment 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.75.

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.