Energy Recovery, Inc. (NASDAQ:ERII) Holdings Boosted by MetLife Investment Management LLC

MetLife Investment Management LLC grew its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 6.0% in the 4th quarter, Holdings Channel reports. The firm owned 34,130 shares of the industrial products company’s stock after acquiring an additional 1,924 shares during the quarter. MetLife Investment Management LLC’s holdings in Energy Recovery were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Energy Recovery by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company’s stock valued at $47,810,000 after buying an additional 43,290 shares during the last quarter. KBC Group NV grew its position in Energy Recovery by 0.4% in the 4th quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock worth $18,270,000 after purchasing an additional 4,670 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Energy Recovery by 27.8% during the fourth quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock valued at $16,462,000 after buying an additional 243,653 shares during the last quarter. Invesco Ltd. boosted its position in shares of Energy Recovery by 14.4% during the fourth quarter. Invesco Ltd. now owns 858,309 shares of the industrial products company’s stock worth $12,617,000 after buying an additional 107,800 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Energy Recovery by 13.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 768,091 shares of the industrial products company’s stock valued at $11,291,000 after acquiring an additional 89,248 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised Energy Recovery from a “hold” rating to a “buy” rating in a report on Saturday, March 29th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Energy Recovery has a consensus rating of “Buy” and an average price target of $20.75.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction 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 transaction, the director now directly owns 693,182 shares in the company, valued at $11,326,593.88. The trade was a 6.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rodney Clemente sold 21,444 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

Energy Recovery Stock Performance

Shares of ERII stock opened at $15.58 on Tuesday. Energy Recovery, Inc. has a 1 year low of $12.26 and a 1 year high of $20.27. The business’s fifty day moving average is $15.49 and its 200-day moving average is $15.75. The stock has a market cap of $853.10 million, a PE ratio of 45.82 and a beta of 1.09.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. Equities research analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share 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.