Energy Recovery, Inc. (ERII) Stake Lifted by Manchester Capital Management LLC

Manchester Capital Management LLC raised its position in Energy Recovery, Inc. (NASDAQ:ERII) by 83.7% during the third quarter, HoldingsChannel.com reports. The firm owned 58,063 shares of the industrial products company’s stock after purchasing an additional 26,450 shares during the period. Manchester Capital Management LLC’s holdings in Energy Recovery were worth $520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cadence Capital Management LLC lifted its position in shares of Energy Recovery by 12.1% in the 2nd quarter. Cadence Capital Management LLC now owns 220,176 shares of the industrial products company’s stock worth $1,779,000 after purchasing an additional 23,777 shares during the period. Trigran Investments Inc. acquired a new position in shares of Energy Recovery in the 2nd quarter worth approximately $2,292,000. Schwab Charles Investment Management Inc. lifted its position in shares of Energy Recovery by 10.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 165,409 shares of the industrial products company’s stock worth $1,360,000 after purchasing an additional 16,097 shares during the period. First Trust Advisors LP lifted its position in shares of Energy Recovery by 2.5% in the 2nd quarter. First Trust Advisors LP now owns 563,416 shares of the industrial products company’s stock worth $4,552,000 after purchasing an additional 13,858 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Energy Recovery in the 2nd quarter worth approximately $250,000. Hedge funds and other institutional investors own 37.09% of the company’s stock.

Energy Recovery stock opened at $9.18 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.26 and a current ratio of 4.51. Energy Recovery, Inc. has a 12-month low of $6.17 and a 12-month high of $11.30. The firm has a market cap of $401.85 million, a P/E ratio of 44.12 and a beta of 5.53.

Energy Recovery (NASDAQ:ERII) last released its earnings results on Thursday, November 1st. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. Energy Recovery had a net margin of 46.91% and a return on equity of 10.72%. The company had revenue of $22.20 million for the quarter, compared to the consensus estimate of $20.63 million. During the same quarter in the previous year, the company earned $0.03 EPS. Energy Recovery’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, equities research analysts expect that Energy Recovery, Inc. will post 0.18 EPS for the current fiscal year.

In related news, VP Nocair Bensalah sold 78,244 shares of the business’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $8.78, for a total transaction of $686,982.32. Following the transaction, the vice president now owns 95,000 shares in the company, valued at approximately $834,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.80% of the stock is owned by insiders.

ERII has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, September 19th. B. Riley set a $20.00 price target on shares of Energy Recovery and gave the stock a “buy” rating in a research report on Monday, August 6th. BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Saturday, September 1st. TheStreet upgraded shares of Energy Recovery from a “c” rating to a “b-” rating in a research report on Tuesday, August 28th. Finally, ValuEngine downgraded shares of Energy Recovery from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Energy Recovery presently has an average rating of “Hold” and an average target price of $14.13.

Energy Recovery Profile

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.

Further Reading: What are CEFs?

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

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