KBC Group NV Acquires 4,670 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

KBC Group NV grew its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,242,889 shares of the industrial products company’s stock after purchasing an additional 4,670 shares during the period. KBC Group NV owned about 2.15% of Energy Recovery worth $18,270,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC raised its stake in shares of Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock valued at $74,000 after buying an additional 4,177 shares during the period. Avanza Fonder AB purchased a new position in Energy Recovery during the 4th quarter valued at about $107,000. AXA S.A. purchased a new position in Energy Recovery during the second quarter valued at approximately $149,000. AQR Capital Management LLC increased its holdings 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 purchasing an additional 1,986 shares during the period. Finally, Pinnacle Associates Ltd. purchased a new position in Energy Recovery during the third quarter worth about $193,000. 83.58% of the stock is owned by hedge funds and other institutional investors.

Energy Recovery Stock Performance

Shares of NASDAQ ERII opened at $14.33 on Wednesday. The company has a 50 day simple moving average of $15.25 and a two-hundred day simple moving average of $16.37. Energy Recovery, Inc. has a fifty-two week low of $12.26 and a fifty-two week high of $20.27. The company has a market capitalization of $829.56 million, a price-to-earnings ratio of 42.15 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. On average, analysts forecast that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ERII. Fearnley Fonds cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Scotiabank began coverage on shares of Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price on the stock. B. Riley reduced their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Finally, Evercore ISI reduced their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $20.75.

Insider Activity

In related news, Director Arve Hanstveit sold 20,000 shares of Energy Recovery stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the completion of the sale, the director now owns 743,182 shares of the company’s stock, valued at $12,537,480.34. The trade was a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rodney Clemente sold 4,207 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $20.06, for a total value of $84,392.42. Following the completion of the transaction, the senior vice president now directly owns 106,367 shares in the company, valued at $2,133,722.02. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,825 shares of company stock worth $814,152 over the last 90 days. 4.10% of the stock is currently owned by insiders.

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.