Morgan Stanley Reduces Holdings in Energy Recovery, Inc. (ERII)

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Morgan Stanley lessened its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 203,678 shares of the industrial products company’s stock after selling 19,624 shares during the quarter. Morgan Stanley’s holdings in Energy Recovery were worth $1,824,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its holdings in shares of Energy Recovery by 26.2% in the 3rd quarter. Wells Fargo & Company MN now owns 113,529 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 23,583 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Energy Recovery by 63.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 81,563 shares of the industrial products company’s stock valued at $730,000 after acquiring an additional 31,658 shares during the period. Quantum Capital Management increased its holdings in shares of Energy Recovery by 105.5% in the 3rd quarter. Quantum Capital Management now owns 132,439 shares of the industrial products company’s stock valued at $1,185,000 after acquiring an additional 67,990 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Energy Recovery by 5.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 135,969 shares of the industrial products company’s stock valued at $1,217,000 after acquiring an additional 7,480 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Energy Recovery by 0.9% in the 3rd quarter. BlackRock Inc. now owns 2,479,926 shares of the industrial products company’s stock valued at $22,197,000 after acquiring an additional 21,746 shares during the period. Hedge funds and other institutional investors own 35.84% of the company’s stock.

In other Energy Recovery news, VP Emily Smith sold 10,000 shares of Energy Recovery stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. Following the completion of the sale, the vice president now owns 66,776 shares of the company’s stock, valued at approximately $534,208. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arve Hanstveit sold 139,042 shares of Energy Recovery stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.50, for a total value of $1,181,857.00. Following the sale, the director now directly owns 1,134,842 shares of the company’s stock, valued at approximately $9,646,157. The disclosure for this sale can be found here. 23.80% of the stock is owned by insiders.

Shares of ERII stock opened at $9.01 on Friday. Energy Recovery, Inc. has a 1-year low of $6.17 and a 1-year high of $10.25. The company has a current ratio of 4.41, a quick ratio of 4.15 and a debt-to-equity ratio of 0.11. The firm has a market cap of $491.99 million, a P/E ratio of 45.05 and a beta of 4.81.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Thursday, March 7th. The industrial products company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Energy Recovery had a return on equity of 10.25% and a net margin of 36.99%. The firm had revenue of $17.71 million for the quarter, compared to the consensus estimate of $15.68 million. On average, equities research analysts forecast that Energy Recovery, Inc. will post 0.26 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the company. JMP Securities reiterated a “buy” rating and issued a $13.00 price target on shares of Energy Recovery in a report on Monday. BidaskClub downgraded Energy Recovery from a “sell” rating to a “strong sell” rating in a report on Saturday, December 1st. Seaport Global Securities downgraded Energy Recovery from a “buy” rating to a “neutral” rating in a report on Friday, December 7th. ValuEngine upgraded Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday, February 2nd. Finally, Zacks Investment Research downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $14.33.

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Energy Recovery Company 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.

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

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