UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.10 Million Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,970 shares of the industrial products company’s stock after selling 3,201 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Energy Recovery were worth $3,095,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in shares of Energy Recovery by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock valued at $294,000 after buying an additional 1,330 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Energy Recovery by 8.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 1,433 shares during the period. Rhumbline Advisers increased its stake in shares of Energy Recovery by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock worth $1,270,000 after purchasing an additional 1,893 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Energy Recovery in the 2nd quarter valued at about $26,000. Finally, AQR Capital Management LLC lifted its stake in Energy Recovery by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 1,986 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.98, for a total value of $116,959.90. Following the completion of the transaction, the senior vice president now owns 133,823 shares of the company’s stock, valued at $2,406,137.54. The trade was a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Farshad Ghasripoor sold 10,526 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total transaction of $189,152.22. Following the sale, the chief technology officer now owns 126,961 shares in the company, valued at $2,281,489.17. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,406 shares of company stock worth $828,688. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

ERII has been the topic of a number of recent analyst reports. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Evercore ISI decreased their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. B. Riley cut their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Scotiabank began coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.75.

Energy Recovery Price Performance

ERII stock opened at $16.11 on Friday. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The stock has a market capitalization of $932.61 million, a price-to-earnings ratio of 47.38 and a beta of 1.18. The business’s fifty day moving average price is $17.50 and its two-hundred day moving average price is $15.95.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $38.60 million during the quarter, compared to analysts’ expectations of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 EPS. Research analysts expect that Energy Recovery, Inc. will post 0.39 EPS for the current year.

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.