Avenir Corp Has $32.52 Million Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Avenir Corp trimmed its position in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,725,960 shares of the industrial products company’s stock after selling 54,580 shares during the quarter. Energy Recovery accounts for 2.8% of Avenir Corp’s investment portfolio, making the stock its 13th largest holding. Avenir Corp owned 3.05% of Energy Recovery worth $32,517,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ERII. Principal Financial Group Inc. raised its position in shares of Energy Recovery by 21.3% during the third quarter. Principal Financial Group Inc. now owns 15,533 shares of the industrial products company’s stock worth $329,000 after purchasing an additional 2,727 shares during the period. Barclays PLC raised its position in Energy Recovery by 8.2% in the 3rd quarter. Barclays PLC now owns 21,940 shares of the industrial products company’s stock valued at $466,000 after buying an additional 1,671 shares during the last quarter. Swiss National Bank raised its position in Energy Recovery by 12.3% in the 3rd quarter. Swiss National Bank now owns 123,800 shares of the industrial products company’s stock valued at $2,626,000 after buying an additional 13,600 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Energy Recovery by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 433,655 shares of the industrial products company’s stock valued at $9,198,000 after buying an additional 13,247 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Energy Recovery by 45.0% in the 3rd quarter. Van ECK Associates Corp now owns 120,694 shares of the industrial products company’s stock valued at $2,560,000 after buying an additional 37,430 shares during the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Energy Recovery

In other news, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $13.20, for a total transaction of $264,000.00. Following the completion of the transaction, the director now owns 763,182 shares in the company, valued at approximately $10,074,002.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Energy Recovery news, CFO Joshua Ballard sold 4,051 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $13.54, for a total value of $54,850.54. Following the completion of the transaction, the chief financial officer now owns 40,376 shares in the company, valued at approximately $546,691.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $13.20, for a total value of $264,000.00. Following the completion of the transaction, the director now owns 763,182 shares of the company’s stock, valued at approximately $10,074,002.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,096 shares of company stock worth $1,084,084. 4.10% of the stock is owned by company insiders.

Energy Recovery Price Performance

Shares of Energy Recovery stock traded up $0.01 during trading hours on Tuesday, hitting $13.64. 609,323 shares of the company’s stock traded hands, compared to its average volume of 443,406. Energy Recovery, Inc. has a 12-month low of $12.45 and a 12-month high of $30.76. The stock has a market capitalization of $781.98 million, a price-to-earnings ratio of 40.12 and a beta of 1.25. The company has a fifty day simple moving average of $13.91 and a 200-day simple moving average of $15.72.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company had revenue of $12.09 million during the quarter, compared to the consensus estimate of $12.49 million. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. On average, analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ERII shares. StockNews.com lowered Energy Recovery from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Evercore ISI decreased their target price on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th.

Energy Recovery Company 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.