31,221 Shares in Energy Recovery, Inc. (NASDAQ:ERII) Bought by Franklin Resources Inc.

Franklin Resources Inc. purchased a new stake in Energy Recovery, Inc. (NASDAQ:ERII) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,221 shares of the industrial products company’s stock, valued at approximately $459,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ERII. Vanguard Group Inc. increased its holdings in shares of Energy Recovery by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company’s stock valued at $47,810,000 after acquiring an additional 43,290 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 purchasing an additional 56,306 shares during the last quarter. KBC Group NV increased its stake in Energy Recovery by 0.4% in the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock valued at $18,270,000 after purchasing an additional 4,670 shares during the last quarter. Baillie Gifford & Co. raised its holdings in 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 worth $16,462,000 after purchasing an additional 243,653 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Energy Recovery by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 475,473 shares of the industrial products company’s stock worth $6,989,000 after buying an additional 6,834 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Energy Recovery 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 transaction of $817,000.00. Following the completion of the sale, the director now directly owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This trade represents a 6.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction that occurred 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 directly owns 111,109 shares in the company, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Energy Recovery Trading Down 0.3 %

Shares of NASDAQ ERII opened at $14.83 on Friday. The stock has a market cap of $814.98 million, a P/E ratio of 43.62 and a beta of 1.05. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $20.27. The stock has a 50 day moving average of $15.46 and a two-hundred day moving average of $16.01.

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

Analyst Ratings Changes

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

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.