KBC Group NV Acquires 153,381 Shares of Energy Recovery, Inc. (NASDAQ:ERII)

KBC Group NV increased its holdings in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 14.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,238,219 shares of the industrial products company’s stock after acquiring an additional 153,381 shares during the period. KBC Group NV owned about 2.14% of Energy Recovery worth $21,533,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ERII. Baillie Gifford & Co. bought a new stake in shares of Energy Recovery during the third quarter worth $15,237,000. Millennium Management LLC increased its stake in Energy Recovery by 130.3% in the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock worth $4,739,000 after buying an additional 201,770 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Energy Recovery during the 1st quarter valued at about $2,372,000. Roubaix Capital LLC purchased a new stake in Energy Recovery in the 2nd quarter valued at about $1,841,000. Finally, Exchange Traded Concepts LLC grew its stake in Energy Recovery by 668.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock worth $2,522,000 after acquiring an additional 126,148 shares in the last quarter. 83.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Fearnley Fonds downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

Insider Activity

In related news, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the transaction, the senior vice president now directly owns 133,823 shares in the company, valued at $2,406,137.54. The trade was a 4.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Farshad Ghasripoor sold 10,526 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $189,152.22. Following the completion of the sale, the chief technology officer now owns 126,961 shares of the company’s stock, valued at approximately $2,281,489.17. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,406 shares of company stock worth $828,688. 4.10% of the stock is currently owned by company insiders.

Energy Recovery Stock Performance

NASDAQ ERII opened at $18.75 on Friday. Energy Recovery, Inc. has a one year low of $12.26 and a one year high of $20.27. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 55.15 and a beta of 1.22. The company’s 50-day simple moving average is $17.70 and its two-hundred day simple moving average is $15.63.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.37 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. Energy Recovery’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. Equities analysts expect that Energy Recovery, Inc. will post 0.41 earnings per share for the current fiscal year.

About Energy Recovery

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.