Duff & Phelps Investment Management Co. Makes New $3.80 Million Investment in Energy Recovery, Inc. (NASDAQ:ERII)

Duff & Phelps Investment Management Co. purchased a new stake in Energy Recovery, Inc. (NASDAQ:ERII) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 258,376 shares of the industrial products company’s stock, valued at approximately $3,798,000. Duff & Phelps Investment Management Co. owned approximately 0.45% of Energy Recovery as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ERII. Vanguard Group Inc. raised its stake in Energy Recovery by 1.3% during 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 purchasing an additional 43,290 shares during the period. Geode Capital Management LLC raised its position in Energy Recovery by 4.3% during 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 buying an additional 56,306 shares during the period. KBC Group NV raised its position in Energy Recovery by 0.4% during 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 buying an additional 4,670 shares during the period. Baillie Gifford & Co. lifted its stake in Energy Recovery by 27.8% in the 4th quarter. Baillie Gifford & Co. now owns 1,119,841 shares of the industrial products company’s stock worth $16,462,000 after acquiring an additional 243,653 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 acquiring an additional 6,834 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the sale, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were 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 in the company, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Energy Recovery Stock Performance

Shares of ERII opened at $16.18 on Friday. The firm has a market cap of $889.17 million, a PE ratio of 47.59 and a beta of 1.21. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $20.27. The firm’s 50 day moving average price is $15.30 and its 200 day moving average price is $16.18.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) 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 business had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. On average, sell-side analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ERII. Scotiabank started coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target for the company. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus 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.