Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Energy Recovery, Inc. (NASDAQ:ERII)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Energy Recovery, Inc. (NASDAQ:ERII) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,375 shares of the industrial products company’s stock after purchasing an additional 3,047 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Energy Recovery were worth $309,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC raised its stake in Energy Recovery by 8.2% in the third quarter. Barclays PLC now owns 21,940 shares of the industrial products company’s stock worth $466,000 after buying an additional 1,671 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Energy Recovery by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,655 shares of the industrial products company’s stock worth $9,198,000 after purchasing an additional 13,247 shares during the last quarter. FMR LLC boosted its position in Energy Recovery by 376.4% during the third quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock valued at $82,952,000 after purchasing an additional 3,090,086 shares in the last quarter. Invesco Ltd. grew its stake in Energy Recovery by 4.6% in the third quarter. Invesco Ltd. now owns 891,312 shares of the industrial products company’s stock valued at $18,905,000 after purchasing an additional 39,310 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in Energy Recovery by 40.3% in the third quarter. Raymond James & Associates now owns 297,886 shares of the industrial products company’s stock worth $6,318,000 after purchasing an additional 85,544 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Insiders Place Their Bets

In other news, Director Arve Hanstveit sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total value of $774,500.00. Following the completion of the transaction, the director now directly owns 807,055 shares in the company, valued at $12,501,281.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total value of $774,500.00. Following the sale, the director now owns 807,055 shares in the company, valued at $12,501,281.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Yu Lang Mao sold 38,025 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.21, for a total transaction of $616,385.25. Following the transaction, the director now directly owns 176,112 shares of the company’s stock, valued at $2,854,775.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,807 shares of company stock valued at $1,432,560. 4.70% of the stock is owned by company insiders.

Energy Recovery Stock Up 4.6 %

ERII opened at $13.64 on Monday. The firm’s 50-day moving average price is $14.83 and its 200-day moving average price is $16.52. The company has a market cap of $781.98 million, a P/E ratio of 40.12 and a beta of 1.26. Energy Recovery, Inc. has a 52-week low of $12.45 and a 52-week high of $30.76.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $57.19 million during the quarter, compared to analysts’ expectations of $63.57 million. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. The company’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. On average, research analysts anticipate that Energy Recovery, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ERII has been the topic of a number of analyst reports. Evercore ISI cut their price objective on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. StockNews.com downgraded Energy Recovery from a “hold” rating to a “sell” rating in a research report on Friday.

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.