Keene & Associates Inc. Buys 4,665 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Keene & Associates Inc. boosted its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 15.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 34,615 shares of the industrial products company’s stock after acquiring an additional 4,665 shares during the quarter. Keene & Associates Inc.’s holdings in Energy Recovery were worth $460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Capital Management LLC boosted its position in shares of Energy Recovery by 64.7% during the fourth quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock worth $82,085,000 after buying an additional 1,711,129 shares during the period. Vanguard Group Inc. lifted its stake in Energy Recovery by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock valued at $47,519,000 after acquiring an additional 53,720 shares in the last quarter. KBC Group NV boosted its position in Energy Recovery by 17.2% during the 4th quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company’s stock worth $20,458,000 after acquiring an additional 159,143 shares during the last quarter. Robeco Schweiz AG grew its stake in shares of Energy Recovery by 21.2% during the 4th quarter. Robeco Schweiz AG now owns 618,269 shares of the industrial products company’s stock worth $11,648,000 after acquiring an additional 108,130 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Energy Recovery by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,205 shares of the industrial products company’s stock valued at $8,275,000 after purchasing an additional 5,550 shares during the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Energy Recovery Trading Up 3.4 %

NASDAQ:ERII opened at $16.03 on Monday. The stock has a market capitalization of $925.25 million, a PE ratio of 47.15 and a beta of 1.22. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $24.35. The firm has a fifty day simple moving average of $15.76 and a 200 day simple moving average of $14.66.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. The company had revenue of $27.20 million during the quarter, compared to the consensus estimate of $23.36 million. On average, equities analysts predict that Energy Recovery, Inc. will post 0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on ERII shares. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price for the company in a report on Tuesday, July 9th. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Insider Transactions at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 2,353 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $34,424.39. Following the completion of the sale, the senior vice president now owns 140,328 shares of the company’s stock, valued at approximately $2,052,998.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Farshad Ghasripoor sold 4,079 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $59,675.77. Following the transaction, the chief technology officer now owns 137,487 shares of the company’s stock, valued at $2,011,434.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rodney Clemente sold 2,353 shares of Energy Recovery stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $34,424.39. Following the sale, the senior vice president now directly owns 140,328 shares of the company’s stock, valued at $2,052,998.64. The disclosure for this sale can be found here. In the last three months, insiders sold 8,444 shares of company stock worth $123,536. 4.10% of the stock is owned by company insiders.

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.