KBC Group NV Grows Position in Energy Recovery, Inc. (NASDAQ:ERII)

KBC Group NV lifted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 0.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,242,889 shares of the industrial products company’s stock after buying an additional 4,670 shares during the quarter. KBC Group NV’s holdings in Energy Recovery were worth $18,270,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Energy Recovery by 5,032.5% during the 3rd quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 4,177 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Energy Recovery during the 4th quarter valued at approximately $107,000. AXA S.A. purchased a new stake in shares of Energy Recovery in the second quarter valued at $149,000. AQR Capital Management LLC boosted its stake in shares of Energy Recovery by 19.8% during the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 1,986 shares during the period. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of Energy Recovery in the third quarter worth approximately $193,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ERII. Evercore ISI decreased their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. B. Riley cut their target price 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. Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Scotiabank began coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 price target for the company. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Stock Up 0.5 %

Shares of Energy Recovery stock opened at $14.33 on Wednesday. The company has a 50 day moving average price of $15.25 and a 200 day moving average price of $16.37. The firm has a market capitalization of $829.56 million, a P/E ratio of 42.15 and a beta of 1.18. 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 data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity at Energy Recovery

In other news, SVP Rodney Clemente sold 19,618 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.00, for a total value of $392,360.00. Following the completion of the transaction, the senior vice president now owns 114,205 shares of the company’s stock, valued at $2,284,100. The trade was a 14.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the transaction, the director now directly owns 743,182 shares of the company’s stock, valued at $12,537,480.34. The trade was a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,825 shares of company stock worth $814,152 over the last quarter. 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.