Northern Trust Corp Buys 44,294 Shares of Energy Recovery, Inc. (ERII)

Northern Trust Corp grew its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 449,189 shares of the industrial products company’s stock after acquiring an additional 44,294 shares during the quarter. Northern Trust Corp owned about 0.84% of Energy Recovery worth $3,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its stake in shares of Energy Recovery by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 119,212 shares of the industrial products company’s stock worth $989,000 after acquiring an additional 741 shares during the last quarter. American International Group Inc. increased its stake in shares of Energy Recovery by 7.1% in the 1st quarter. American International Group Inc. now owns 21,200 shares of the industrial products company’s stock worth $176,000 after acquiring an additional 1,399 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Energy Recovery by 7.3% in the 2nd quarter. Rhumbline Advisers now owns 40,107 shares of the industrial products company’s stock worth $332,000 after acquiring an additional 2,712 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Energy Recovery by 4.4% in the 2nd quarter. Teachers Advisors LLC now owns 68,641 shares of the industrial products company’s stock worth $569,000 after acquiring an additional 2,887 shares during the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in shares of Energy Recovery by 729.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 3,316 shares of the industrial products company’s stock worth $400,000 after acquiring an additional 2,916 shares during the last quarter. 33.61% of the stock is owned by institutional investors and hedge funds.

Shares of Energy Recovery, Inc. (NASDAQ:ERII) traded up $0.20 during trading on Thursday, reaching $10.30. The company had a trading volume of 294,318 shares, compared to its average volume of 423,147. Energy Recovery, Inc. has a 12 month low of $6.13 and a 12 month high of $12.73. The stock has a market cap of $555.78, a PE ratio of 148.14, a price-to-earnings-growth ratio of 2.09 and a beta of 5.73.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). Energy Recovery had a net margin of 7.78% and a return on equity of 5.75%. The firm had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $14.64 million. During the same quarter last year, the business earned ($0.01) earnings per share. The business’s revenue was up 22.9% compared to the same quarter last year. equities analysts forecast that Energy Recovery, Inc. will post 0.33 EPS for the current fiscal year.

ERII has been the subject of a number of recent analyst reports. 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 report on Wednesday, November 8th. JMP Securities initiated coverage on Energy Recovery in a research report on Tuesday, September 5th. They set an “outperform” rating and a $12.00 price objective for the company. ValuEngine raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. FBR & Co reissued a “buy” rating on shares of Energy Recovery in a research report on Wednesday, October 11th. Finally, Seaport Global Securities initiated coverage on Energy Recovery in a research report on Tuesday, October 17th. They set a “buy” rating and a $17.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Energy Recovery presently has a consensus rating of “Buy” and an average target price of $17.00.

In other news, VP Andrew B. Stroud, Jr. sold 7,117 shares of Energy Recovery stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $11.00, for a total value of $78,287.00. Following the completion of the transaction, the vice president now owns 32,398 shares in the company, valued at approximately $356,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Olav Fjell acquired 18,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was bought at an average price of $7.08 per share, with a total value of $127,440.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at approximately $127,440. The disclosure for this purchase can be found here. Company insiders own 23.60% of the company’s stock.

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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.

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

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