Martin Currie Ltd. Has $269,000 Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Martin Currie Ltd. lifted its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 53.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,305 shares of the industrial products company’s stock after buying an additional 6,394 shares during the quarter. Martin Currie Ltd.’s holdings in Energy Recovery were worth $269,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Energy Recovery by 4.3% during 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 acquiring an additional 56,306 shares during the period. Barclays PLC grew its stake in Energy Recovery by 376.6% during the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after purchasing an additional 76,393 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Energy Recovery by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock worth $6,989,000 after purchasing an additional 6,834 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Energy Recovery by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock valued at $4,780,000 after buying an additional 109,847 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Energy Recovery by 552.4% during the 4th quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company’s stock worth $1,563,000 after buying an additional 90,008 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Insider Buying and Selling

In related news, SVP Rodney Clemente sold 21,444 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.42, for a total transaction of $330,666.48. Following the transaction, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the transaction, the director now owns 693,182 shares in the company, valued at approximately $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Energy Recovery Trading Down 1.4 %

Energy Recovery stock opened at $15.95 on Friday. The firm has a market capitalization of $876.53 million, a price-to-earnings ratio of 46.91 and a beta of 1.21. The firm’s fifty day moving average price is $15.33 and its two-hundred day moving average price is $16.19. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year 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 for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $67.08 million during 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%. On average, research analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

ERII has been the subject of several research analyst reports. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Scotiabank began coverage on shares of Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, StockNews.com upgraded Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Energy Recovery currently has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Company 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.