KBC Group NV Sells 36,323 Shares of Energy Recovery, Inc. $ERII

KBC Group NV trimmed its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,206,566 shares of the industrial products company’s stock after selling 36,323 shares during the period. KBC Group NV owned about 2.21% of Energy Recovery worth $15,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Energy Recovery by 2.1% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 69,968 shares of the industrial products company’s stock worth $894,000 after acquiring an additional 1,458 shares during the last quarter. Redmond Asset Management LLC increased its stake in Energy Recovery by 0.8% in the 1st quarter. Redmond Asset Management LLC now owns 238,541 shares of the industrial products company’s stock worth $3,790,000 after purchasing an additional 1,881 shares during the period. Nordea Investment Management AB increased its position in shares of Energy Recovery by 2.0% during the second quarter. Nordea Investment Management AB now owns 133,592 shares of the industrial products company’s stock valued at $1,721,000 after buying an additional 2,558 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of Energy Recovery in the 2nd quarter worth approximately $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Energy Recovery by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,929 shares of the industrial products company’s stock valued at $714,000 after acquiring an additional 3,185 shares during the period. 83.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Energy Recovery

In other news, insider William Yeung sold 33,554 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $14.51, for a total transaction of $486,868.54. Following the completion of the sale, the insider owned 97,369 shares in the company, valued at approximately $1,412,824.19. This represents a 25.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 72,333 shares of company stock valued at $1,122,195. Insiders own 3.20% of the company’s stock.

Energy Recovery Price Performance

ERII opened at $14.53 on Friday. Energy Recovery, Inc. has a 1 year low of $10.86 and a 1 year high of $19.32. The firm has a fifty day moving average price of $15.66 and a 200 day moving average price of $14.18. The stock has a market cap of $769.68 million, a P/E ratio of 34.60 and a beta of 1.10.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, November 5th. The industrial products company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Energy Recovery had a net margin of 17.02% and a return on equity of 11.67%. The company had revenue of $32.00 million for the quarter, compared to the consensus estimate of $29.94 million. Energy Recovery has set its FY 2025 guidance at EPS. Equities analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. B. Riley reissued a “neutral” rating on shares of Energy Recovery in a report on Thursday, November 6th. CJS Securities initiated coverage on shares of Energy Recovery in a report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price target on the stock. Loop Capital set a $18.20 target price on shares of Energy Recovery in a report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Energy Recovery in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.64.

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.