Sargent Investment Group LLC Has $6.35 Million Stock Position in Energy Recovery, Inc. (NASDAQ:ERII)

Sargent Investment Group LLC cut its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 337,070 shares of the industrial products company’s stock after selling 16,025 shares during the period. Energy Recovery comprises approximately 1.4% of Sargent Investment Group LLC’s investment portfolio, making the stock its 19th biggest position. Sargent Investment Group LLC owned approximately 0.60% of Energy Recovery worth $6,350,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ERII. Barclays PLC grew its stake in shares of Energy Recovery by 8.2% in the third quarter. Barclays PLC now owns 21,940 shares of the industrial products company’s stock worth $466,000 after purchasing an additional 1,671 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Energy Recovery by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 433,655 shares of the industrial products company’s stock worth $9,198,000 after purchasing an additional 13,247 shares during the last quarter. FMR LLC grew its stake in shares of Energy Recovery by 376.4% in the third quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after purchasing an additional 3,090,086 shares during the last quarter. Invesco Ltd. grew its stake in shares of Energy Recovery by 4.6% in the third quarter. Invesco Ltd. now owns 891,312 shares of the industrial products company’s stock worth $18,905,000 after purchasing an additional 39,310 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Energy Recovery by 40.3% in the third quarter. Raymond James & Associates now owns 297,886 shares of the industrial products company’s stock worth $6,318,000 after purchasing an additional 85,544 shares during the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Energy Recovery Stock Up 0.1 %

ERII traded up $0.01 during trading on Friday, reaching $14.20. 257,148 shares of the stock traded hands, compared to its average volume of 323,210. The stock has a market capitalization of $814.09 million, a PE ratio of 38.38 and a beta of 1.27. The stock’s 50-day moving average is $14.94 and its 200 day moving average is $16.73. Energy Recovery, Inc. has a 12 month low of $13.41 and a 12 month high of $30.76.

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). The company had revenue of $57.19 million for the quarter, compared to the consensus estimate of $63.57 million. Energy Recovery had a return on equity of 11.99% and a net margin of 16.75%. Energy Recovery’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. As a group, equities research analysts anticipate that Energy Recovery, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI cut their price target on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th.

Insider Transactions at Energy Recovery

In other news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total transaction of $774,500.00. Following the transaction, the director now owns 807,055 shares of the company’s stock, valued at approximately $12,501,281.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total value of $774,500.00. Following the completion of the sale, the director now owns 807,055 shares in the company, valued at approximately $12,501,281.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Yu Lang Mao sold 38,025 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.21, for a total transaction of $616,385.25. Following the completion of the sale, the director now owns 176,112 shares of the company’s stock, valued at approximately $2,854,775.52. The disclosure for this sale can be found here. Insiders have sold 96,457 shares of company stock valued at $1,519,283 in the last 90 days. 4.70% of the stock is currently owned by corporate insiders.

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.