KBC Group NV Raises Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

KBC Group NV raised its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 14.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,238,219 shares of the industrial products company’s stock after purchasing an additional 153,381 shares during the quarter. KBC Group NV’s holdings in Energy Recovery were worth $21,533,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Energy Recovery by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 1,330 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Energy Recovery by 8.8% during 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 boosted its holdings in shares of Energy Recovery by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company’s stock valued at $1,270,000 after acquiring an additional 1,893 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Energy Recovery in the second quarter worth $26,000. Finally, AQR Capital Management LLC increased its stake in shares of Energy Recovery by 19.8% in the second quarter. AQR Capital Management LLC now owns 11,998 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 1,986 shares during the period. 83.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Energy Recovery

In related news, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.98, for a total value of $116,959.90. Following the completion of the sale, the senior vice president now owns 133,823 shares of the company’s stock, valued at approximately $2,406,137.54. The trade was a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David W. Moon sold 2,550 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now directly owns 87,101 shares in the company, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,406 shares of company stock worth $828,688 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ERII. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Energy Recovery Price Performance

NASDAQ:ERII opened at $18.75 on Friday. The company has a 50 day moving average price of $17.70 and a 200-day moving average price of $15.63. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 55.15 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last released 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. The company 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 firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share. On average, sell-side analysts anticipate that Energy Recovery, Inc. will post 0.41 earnings per share for the current fiscal year.

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.