New York State Common Retirement Fund Has $14.05 Million Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

New York State Common Retirement Fund boosted its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 33.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 745,853 shares of the industrial products company’s stock after acquiring an additional 185,163 shares during the period. New York State Common Retirement Fund owned 1.32% of Energy Recovery worth $14,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new stake in shares of Energy Recovery in the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC bought a new stake in Energy Recovery during the third quarter valued at $29,000. Clear Street Markets LLC acquired a new stake in Energy Recovery during the 3rd quarter worth about $33,000. Sentry Investment Management LLC bought a new position in shares of Energy Recovery in the 4th quarter worth about $117,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Energy Recovery by 7.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,223 shares of the industrial products company’s stock valued at $259,000 after purchasing an additional 830 shares during the period. Institutional investors and hedge funds own 83.58% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Evercore ISI lowered their target price on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th.

Energy Recovery Trading Up 4.6 %

NASDAQ:ERII opened at $14.86 on Tuesday. Energy Recovery, Inc. has a 12 month low of $13.41 and a 12 month high of $30.76. The stock has a market capitalization of $851.92 million, a price-to-earnings ratio of 40.16 and a beta of 1.27. The firm has a fifty day simple moving average of $14.91 and a two-hundred day simple moving average of $16.67.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Energy Recovery had a return on equity of 11.99% and a net margin of 16.75%. The company had revenue of $57.19 million for the quarter, compared to the consensus estimate of $63.57 million. During the same period last year, the company earned $0.24 EPS. Energy Recovery’s revenue for the quarter was up 35.2% compared to the same quarter last year. Equities analysts predict that Energy Recovery, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other news, CEO David W. Moon bought 10,750 shares of the stock in a transaction dated Tuesday, February 27th. The shares were bought at an average cost of $15.51 per share, with a total value of $166,732.50. Following the completion of the transaction, the chief executive officer now directly owns 19,250 shares of the company’s stock, valued at $298,567.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert Yu Lang Mao sold 38,025 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.21, for a total value of $616,385.25. Following the transaction, the director now owns 176,112 shares of the company’s stock, valued at approximately $2,854,775.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David W. Moon acquired 10,750 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $15.51 per share, with a total value of $166,732.50. Following the completion of the acquisition, the chief executive officer now directly owns 19,250 shares in the company, valued at approximately $298,567.50. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 93,913 shares of company stock valued at $1,478,808. Company insiders own 4.70% of the company’s stock.

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.