2 weeks Ago By Defense World Staff
Bank of Montreal Can lifted its position in Energy Recovery, Inc. (NASDAQ:ERII – Free Report) by 99.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission.
The institutional investor owned 49,358 shares of the industrial products company’s stock after purchasing an additional 24,555 shares during the quarter. Bank of Montreal Can owned 0.09% of Energy Recovery worth $726,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Avanza Fonder AB purchased a new position in shares of Energy Recovery during the fourth quarter worth approximately $107,000. Schroder Investment Management Group bought a new stake in Energy Recovery in the fourth quarter worth $160,000.
Polymer Capital Management US LLC bought a new stake in shares of Energy Recovery in the 4th quarter valued at about $211,000. Dynamic Technology Lab Private Ltd bought a new stake in Energy Recovery during the 4th quarter valued at $234,000. Finally, Martin Currie Ltd.
boosted its holdings in shares of Energy Recovery by 53.7% during the fourth quarter. Martin Currie Ltd.
now owns 18,305 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 6,394 shares during the period. 83.58% of the stock is owned by hedge funds and other institutional investors.
Energy Recovery Price PerformanceShares of Energy Recovery stock opened at $14.83 on Monday. Energy Recovery, Inc.
has a 1 year low of $12.26 and a 1 year high of $20.27.
The company has a 50-day moving average of $15.46 and a 200 day moving average of $15.98.
The firm has a market cap of $814.98 million, a price-to-earnings ratio of 43.62 and a beta of 1.
05. Energy Recovery (NASDAQ:ERII – Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.
41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01).
Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%.
The company had revenue of $67.08 million for the quarter, compared to the consensus estimate of $67.39 million.
On average, equities analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current year.
Analyst Upgrades and DowngradesSeparately, StockNews.com raised Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock.
Based on data from MarketBeat, Energy Recovery has a consensus rating of “Buy” and an average target price of $20.75.Get Our Latest Stock Report on ERIIInsider ActivityIn related news, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction on Thursday, February 20th.
The stock was sold at an average price of $15.42, for a total transaction of $330,666.48.
Following the completion of the sale, the senior vice president now owns 111,109 shares in the company, valued at approximately $1,713,300.78. This represents a 16.
18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the firm’s 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 transaction, the director now directly owns 693,182 shares in the company, valued at approximately $11,326,593.88. The trade was a 6.
73 % 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 Company Profile (Free Report)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.See AlsoFive stocks we like better than Energy RecoveryDividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness With a 60%+ Upside, There’s Plenty to Love About LovesacWhat Investors Need to Know to Beat the MarketJ.B.
Hunt Transport Overcorrects Into a Buying OpportunityLow PE Growth Stocks: Unlocking Investment OpportunitiesAppLovin: Can Record Profits Overcome Market Skepticism?Want to see what other hedge funds are holding ERII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Recovery, Inc. (NASDAQ:ERII – Free Report).
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