KLP Kapitalforvaltning AS Purchases 102,311 Shares of Energy Recovery, Inc. $ERII

KLP Kapitalforvaltning AS lifted its stake in Energy Recovery, Inc. (NASDAQ:ERII) by 33.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 411,911 shares of the industrial products company’s stock after buying an additional 102,311 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.76% of Energy Recovery worth $5,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Energy Recovery by 7.5% in the first quarter. Rhumbline Advisers now owns 83,125 shares of the industrial products company’s stock valued at $1,321,000 after buying an additional 5,781 shares during the period. Select Equity Group L.P. boosted its stake in shares of Energy Recovery by 403.5% in the first quarter. Select Equity Group L.P. now owns 667,157 shares of the industrial products company’s stock valued at $10,601,000 after buying an additional 534,662 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Energy Recovery in the first quarter valued at approximately $430,000. Vanguard Group Inc. boosted its stake in shares of Energy Recovery by 7.5% in the first quarter. Vanguard Group Inc. now owns 3,494,872 shares of the industrial products company’s stock valued at $55,534,000 after buying an additional 242,494 shares during the period. Finally, Kopion Asset Management LLC bought a new stake in shares of Energy Recovery in the second quarter valued at approximately $3,870,000. 83.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ERII has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Energy Recovery in a research note on Saturday, September 27th. B. Riley boosted their price objective on shares of Energy Recovery from $12.50 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, CJS Securities began coverage on shares of Energy Recovery in a research report on Tuesday, September 16th. They set a “market outperform” rating and a $19.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Energy Recovery presently has an average rating of “Buy” and a consensus price target of $18.75.

Energy Recovery Price Performance

Shares of ERII opened at $15.27 on Friday. Energy Recovery, Inc. has a one year low of $10.86 and a one year high of $20.27. The company has a market cap of $812.36 million, a P/E ratio of 36.36 and a beta of 1.02. The firm has a 50 day simple moving average of $14.68 and a two-hundred day simple moving average of $13.99.

Insider Buying and Selling at Energy Recovery

In other news, SVP Rodney Clemente sold 5,387 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $13.97, for a total transaction of $75,256.39. Following the completion of the transaction, the senior vice president directly owned 100,765 shares in the company, valued at approximately $1,407,687.05. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Yeung sold 33,554 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $14.51, for a total transaction of $486,868.54. Following the transaction, the insider owned 97,369 shares of the company’s stock, valued at $1,412,824.19. This trade represents a 25.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,962 shares of company stock valued at $852,398 over the last quarter. Company insiders own 3.20% 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.