Alliancebernstein L.P. grew its holdings in shares of Energy Recovery (NASDAQ:ERII) by 108.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,140 shares of the industrial products company’s stock after acquiring an additional 29,240 shares during the quarter. Alliancebernstein L.P. owned about 0.10% of Energy Recovery worth $491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas bought a new stake in shares of Energy Recovery during the 4th quarter valued at about $101,000. GSA Capital Partners LLP bought a new stake in shares of Energy Recovery during the 3rd quarter valued at about $130,000. Monarch Partners Asset Management LLC bought a new stake in Energy Recovery in the 4th quarter worth approximately $312,000. Fox Run Management L.L.C. bought a new stake in Energy Recovery in the 4th quarter worth approximately $393,000. Finally, Neuberger Berman Group LLC lifted its position in Energy Recovery by 200.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 60,000 shares of the industrial products company’s stock worth $474,000 after buying an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 36.07% of the company’s stock.

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NASDAQ:ERII opened at $8.14 on Tuesday. The company has a market capitalization of $442.14, a P/E ratio of 116.29 and a beta of 5.30. Energy Recovery has a 1-year low of $6.13 and a 1-year high of $11.30.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, March 7th. The industrial products company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.17). The company had revenue of $22.39 million during the quarter, compared to analysts’ expectations of $30.59 million. Energy Recovery had a return on equity of 5.62% and a net margin of 22.39%. Energy Recovery’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. analysts expect that Energy Recovery will post 0.25 earnings per share for the current fiscal year.

Energy Recovery declared that its Board of Directors has approved a share buyback program on Thursday, March 8th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of research firms recently weighed in on ERII. BidaskClub downgraded Energy Recovery from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. B. Riley set a $20.00 target price on Energy Recovery and gave the stock a “buy” rating in a research report on Monday, December 18th. Jefferies Group restated a “buy” rating and issued a $14.00 target price on shares of Energy Recovery in a research report on Wednesday, December 20th. Zacks Investment Research downgraded Energy Recovery from a “strong-buy” rating to a “sell” rating in a research report on Monday, January 8th. Finally, TheStreet upgraded Energy Recovery from a “c” rating to a “b-” rating in a research report on Thursday, March 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $15.00.

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $8.57, for a total value of $428,500.00. Following the transaction, the director now directly owns 1,095,800 shares of the company’s stock, valued at approximately $9,391,006. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.60% of the stock is owned by insiders.

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About Energy Recovery

Energy Recovery, Inc provides energy solutions to industrial fluid flow markets under the ERI, PX, Pressure Exchanger, PX Pressure Exchanger, AT, AquaBold, VorTeq, MTeq, IsoBoost, and IsoGen names worldwide. The company operates through Water and Oil & Gas segments. It offers pressure exchanger energy recovery devices for water desalination plants; hydraulic turbochargers for low-pressure brackish, high-pressure seawater reverse osmosis systems, and other water treatment applications; and high-pressure and circulation pumps for low and high-pressure reverse osmosis systems.

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Institutional Ownership by Quarter for Energy Recovery (NASDAQ:ERII)

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