Energy Recovery, Inc. $ERII Shares Sold by KBC Group NV

KBC Group NV trimmed its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 2.9% in the second quarter, Holdings Channel.com reports. The firm owned 1,206,566 shares of the industrial products company’s stock after selling 36,323 shares during the quarter. KBC Group NV’s holdings in Energy Recovery were worth $15,420,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. acquired a new stake in Energy Recovery in the 2nd quarter valued at $2,381,000. Campbell & CO Investment Adviser LLC boosted its stake in shares of Energy Recovery by 88.5% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 42,155 shares of the industrial products company’s stock valued at $539,000 after buying an additional 19,789 shares during the last quarter. Aviva PLC increased its position in shares of Energy Recovery by 44.5% in the 2nd quarter. Aviva PLC now owns 37,412 shares of the industrial products company’s stock worth $478,000 after purchasing an additional 11,530 shares during the last quarter. Versor Investments LP bought a new stake in Energy Recovery in the second quarter valued at about $243,000. Finally, Pinnacle Associates Ltd. raised its position in shares of Energy Recovery by 42.7% during the 2nd quarter. Pinnacle Associates Ltd. now owns 399,171 shares of the industrial products company’s stock valued at $5,101,000 after acquiring an additional 119,445 shares in the last quarter. Hedge funds and other institutional investors own 83.58% of the company’s stock.

Energy Recovery Trading Up 1.9%

Shares of Energy Recovery stock opened at $14.53 on Friday. The stock has a market capitalization of $769.68 million, a price-to-earnings ratio of 34.60 and a beta of 1.10. The firm’s 50-day moving average price is $15.66 and its two-hundred day moving average price is $14.18. Energy Recovery, Inc. has a 1-year low of $10.86 and a 1-year high of $19.32.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, November 5th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Energy Recovery had a net margin of 17.02% and a return on equity of 11.67%. The company had revenue of $32.00 million for the quarter, compared to the consensus estimate of $29.94 million. Energy Recovery has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ERII shares. CJS Securities assumed coverage on Energy Recovery in a report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Energy Recovery in a research report on Tuesday, October 14th. B. Riley restated a “neutral” rating on shares of Energy Recovery in a research report on Thursday, November 6th. Finally, Loop Capital set a $18.20 target price on Energy Recovery in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.64.

Insiders Place Their Bets

In other Energy Recovery news, insider William Yeung sold 33,554 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $14.51, for a total transaction of $486,868.54. Following the completion of the transaction, the insider owned 97,369 shares in the company, valued at approximately $1,412,824.19. This represents a 25.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 72,333 shares of company stock valued at $1,122,195. 3.20% of the stock is currently owned by corporate insiders.

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.