Mesirow Institutional Investment Management Inc. acquired a new stake in Energy Recovery, Inc. (NASDAQ:ERII – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 516,095 shares of the industrial products company’s stock, valued at approximately $11,220,000. Energy Recovery accounts for about 1.6% of Mesirow Institutional Investment Management Inc.’s investment portfolio, making the stock its 8th largest holding. Mesirow Institutional Investment Management Inc. owned about 0.92% of Energy Recovery as of its most recent filing with the Securities and Exchange Commission (SEC).
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A number of other institutional investors also recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. boosted its position in shares of Energy Recovery by 6.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,731 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 561 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Energy Recovery by 39.6% during the first quarter. JPMorgan Chase & Co. now owns 174,963 shares of the industrial products company’s stock worth $3,523,000 after buying an additional 49,671 shares in the last quarter. MetLife Investment Management LLC grew its position in Energy Recovery by 45.2% during the first quarter. MetLife Investment Management LLC now owns 22,475 shares of the industrial products company’s stock worth $453,000 after buying an additional 6,996 shares during the period. Dimensional Fund Advisors LP increased its holdings in Energy Recovery by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 515,909 shares of the industrial products company’s stock valued at $10,391,000 after buying an additional 28,563 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Energy Recovery by 42.4% during the 1st quarter. Vontobel Holding Ltd. now owns 75,727 shares of the industrial products company’s stock valued at $1,549,000 after acquiring an additional 22,562 shares during the period. Hedge funds and other institutional investors own 76.96% of the company’s stock.
Energy Recovery Stock Down 1.4 %
Shares of ERII traded down $0.32 during trading hours on Wednesday, reaching $21.81. 18,868 shares of the company traded hands, compared to its average volume of 238,960. The stock has a market capitalization of $1.22 billion, a PE ratio of 81.67 and a beta of 1.13. The stock has a fifty day simple moving average of $21.58 and a 200 day simple moving average of $22.27. Energy Recovery, Inc. has a fifty-two week low of $16.92 and a fifty-two week high of $26.34.
Energy Recovery (NASDAQ:ERII – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.03). The firm had revenue of $30.46 million for the quarter, compared to analyst estimates of $34.00 million. Energy Recovery had a return on equity of 9.89% and a net margin of 13.34%. Research analysts predict that Energy Recovery, Inc. will post 0.34 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. StockNews.com initiated coverage on Energy Recovery in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Fearnley Fonds downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research note on Monday, November 7th. B. Riley began coverage on shares of Energy Recovery in a research note on Thursday, November 17th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Raymond James upgraded shares of Energy Recovery from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.00.
Energy Recovery Company Profile
Energy Recovery, Inc engages in the design and manufacture of industrial fluid flow solutions. It operates through the Water, and Oil and Gas segments. The Water segment in sea, brackish, and contaminated water reverse osmosis desalination solutions. The Oil and Gas segment delivers hydraulic fracturing, gas processing, and chemical processing services.
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