Martin Currie Ltd. Buys 6,394 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

Martin Currie Ltd. boosted its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 53.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,305 shares of the industrial products company’s stock after purchasing an additional 6,394 shares during the period. Martin Currie Ltd.’s holdings in Energy Recovery were worth $269,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERII. Avanza Fonder AB purchased a new stake in shares of Energy Recovery during the 4th quarter worth approximately $107,000. Schroder Investment Management Group purchased a new stake in Energy Recovery in the fourth quarter worth $160,000. Fox Run Management L.L.C. bought a new stake in shares of Energy Recovery in the fourth quarter valued at $305,000. Intech Investment Management LLC purchased a new position in shares of Energy Recovery during the 4th quarter valued at $388,000. Finally, Inspire Investing LLC grew its stake in shares of Energy Recovery by 14.8% during the 4th quarter. Inspire Investing LLC now owns 27,801 shares of the industrial products company’s stock worth $409,000 after acquiring an additional 3,594 shares during the period. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Energy Recovery from a “hold” rating to a “buy” rating in a research note on Saturday. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, Scotiabank started coverage on shares of Energy Recovery in a report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Energy Recovery has a consensus rating of “Buy” and an average target price of $20.75.

Insider Activity

In other news, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the transaction, the senior vice president now owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. The trade was a 16.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the transaction, the director now owns 693,182 shares in the company, valued at approximately $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Energy Recovery Stock Down 1.4 %

ERII stock opened at $15.95 on Friday. The stock has a 50-day simple moving average of $15.33 and a two-hundred day simple moving average of $16.19. Energy Recovery, Inc. has a twelve month low of $12.26 and a twelve month high of $20.27. The firm has a market capitalization of $876.53 million, a PE ratio of 46.91 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The firm had revenue of $67.08 million for the quarter, compared to analysts’ expectations of $67.39 million. On average, equities research analysts anticipate that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

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.