Duff & Phelps Investment Management Co. Invests $3.80 Million in Energy Recovery, Inc. (NASDAQ:ERII)

Duff & Phelps Investment Management Co. purchased a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) in the 4th quarter, Holdings Channel reports. The fund purchased 258,376 shares of the industrial products company’s stock, valued at approximately $3,798,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after acquiring an additional 56,306 shares during the last quarter. Barclays PLC raised its position in Energy Recovery by 376.6% in the 3rd quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock valued at $1,681,000 after purchasing an additional 76,393 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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. grew its holdings in shares of Energy Recovery by 66.6% during the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock worth $4,780,000 after purchasing an additional 109,847 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in 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 acquiring an additional 90,008 shares during the last quarter. 83.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Scotiabank initiated 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 on the stock. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $20.75.

Energy Recovery Stock Performance

Shares of Energy Recovery stock opened at $16.18 on Friday. The firm has a market cap of $889.17 million, a PE ratio of 47.59 and a beta of 1.21. The business’s 50 day simple moving average is $15.30 and its 200 day simple moving average is $16.18. 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, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 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 $67.08 million during the quarter, compared to the consensus estimate of $67.39 million. As a group, equities research analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the completion of the sale, the director now owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This represents a 6.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares in the company, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.