Energy Recovery, Inc. (ERII) Position Lowered by Ameriprise Financial Inc.
Ameriprise Financial Inc. cut its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 94.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,411 shares of the industrial products company’s stock after selling 459,169 shares during the period. Ameriprise Financial Inc.’s holdings in Energy Recovery were worth $210,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in ERII. Schwab Charles Investment Management Inc. lifted its holdings in Energy Recovery by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock valued at $989,000 after acquiring an additional 741 shares during the period. American International Group Inc. lifted its holdings in Energy Recovery by 7.1% in the first quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 1,399 shares during the period. Rhumbline Advisers lifted its holdings in Energy Recovery by 7.3% in the second quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock valued at $332,000 after acquiring an additional 2,712 shares during the period. Teachers Advisors LLC raised its stake in shares of Energy Recovery by 4.4% in the second quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock worth $569,000 after buying an additional 2,887 shares during the period. Finally, Harbour Capital Advisors LLC raised its stake in shares of Energy Recovery by 729.0% in the second quarter. Harbour Capital Advisors LLC now owns 3,316 shares of the industrial products company’s stock worth $400,000 after buying an additional 2,916 shares during the period. 33.74% of the stock is currently owned by institutional investors.
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Shares of Energy Recovery, Inc. (ERII) opened at $9.53 on Friday. Energy Recovery, Inc. has a 1 year low of $6.13 and a 1 year high of $12.73. The stock has a market capitalization of $510.76, a PE ratio of 136.14, a P/E/G ratio of 1.93 and a beta of 5.60.
Energy Recovery (NASDAQ:ERII) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.31). Energy Recovery had a return on equity of 5.75% and a net margin of 7.78%. The business had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $14.64 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. analysts expect that Energy Recovery, Inc. will post 0.33 earnings per share for the current fiscal year.
In other Energy Recovery news, Director Olav Fjell bought 18,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average price of $7.08 per share, for a total transaction of $127,440.00. Following the completion of the transaction, the director now owns 18,000 shares of the company’s stock, valued at approximately $127,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.60% of the company’s stock.
Several research analysts have recently commented on ERII shares. BidaskClub downgraded Energy Recovery from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. B. Riley raised their price objective on Energy Recovery from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. JMP Securities started coverage on Energy Recovery in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $12.00 price objective on the stock. ValuEngine raised Energy Recovery from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, FBR & Co reaffirmed a “buy” rating on shares of Energy Recovery in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $17.00.
Energy Recovery Profile
Energy Recovery, Inc is an energy solutions provider to industrial fluid flow markets. The Company’s solutions convert wasted pressure energy into a reusable asset and preserve or eliminate pumping technology in hostile processing environments. Its segments include Water, Oil & Gas, and Corporate. The Water Segment focuses on products sold for use in reverse osmosis water desalination.
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