Energy Recovery, Inc. (NASDAQ:ERII) Stock Position Increased by Select Equity Group L.P.

Select Equity Group L.P. boosted its position in Energy Recovery, Inc. (NASDAQ:ERII) by 96.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,263 shares of the industrial products company’s stock after purchasing an additional 28,147 shares during the quarter. Select Equity Group L.P. owned about 0.10% of Energy Recovery worth $1,050,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Monarch Partners Asset Management LLC lifted its position in Energy Recovery by 1.0% in the 1st quarter. Monarch Partners Asset Management LLC now owns 79,719 shares of the industrial products company’s stock valued at $1,462,000 after purchasing an additional 795 shares during the last quarter. LPL Financial LLC lifted its position in Energy Recovery by 4.0% in the 4th quarter. LPL Financial LLC now owns 26,241 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Energy Recovery by 5.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 24,904 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 1,315 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Energy Recovery by 9.7% in the 1st quarter. Pinnacle Associates Ltd. now owns 15,850 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Swiss National Bank increased its stake in Energy Recovery by 1.7% during the 1st quarter. Swiss National Bank now owns 89,800 shares of the industrial products company’s stock valued at $1,647,000 after buying an additional 1,500 shares during the period. Hedge funds and other institutional investors own 46.61% of the company’s stock.

Several equities analysts have commented on ERII shares. Raymond James cut shares of Energy Recovery from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 7th. Zacks Investment Research cut shares of Energy Recovery from a “buy” rating to a “hold” rating in a research note on Wednesday, July 7th.

Energy Recovery stock traded up $0.38 during trading hours on Thursday, hitting $20.80. 267,092 shares of the company traded hands, compared to its average volume of 405,986. The firm’s 50-day moving average price is $20.10. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 35.86 and a beta of 1.25. Energy Recovery, Inc. has a 1-year low of $7.43 and a 1-year high of $23.69.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Thursday, May 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The company had revenue of $28.94 million for the quarter, compared to analysts’ expectations of $30.00 million. Energy Recovery had a net margin of 25.82% and a return on equity of 20.30%. As a group, analysts anticipate that Energy Recovery, Inc. will post 0.2 EPS for the current fiscal year.

In other news, Director Arve Hanstveit sold 14,374 shares of Energy Recovery stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $22.16, for a total value of $318,527.84. Following the transaction, the director now owns 924,733 shares of the company’s stock, valued at approximately $20,492,083.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder As Arvarius sold 1,000,000 shares of Energy Recovery stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $19.50, for a total transaction of $19,500,000.00. Following the completion of the transaction, the insider now directly owns 6,532,490 shares in the company, valued at approximately $127,383,555. The disclosure for this sale can be found here. Insiders sold a total of 1,185,231 shares of company stock worth $23,685,541 in the last ninety days. Corporate insiders own 17.40% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells various solutions for industrial fluid-flow markets worldwide. The company operates through Water, and Oil & Gas segments. It designs, engineers, manufactures, and supplies various energy recovery devices (ERDs), including positive displacement isobaric ERDs and centrifugal-type ERDs, such as our hydraulic turbochargers; and high-pressure feed and circulation pumps.

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Institutional Ownership by Quarter for Energy Recovery (NASDAQ:ERII)

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