Sentry Investment Management LLC Makes New $117,000 Investment in Energy Recovery, Inc. (NASDAQ:ERII)

Sentry Investment Management LLC acquired a new position in shares of Energy Recovery, Inc. (NASDAQ:ERII) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,189 shares of the industrial products company’s stock, valued at approximately $117,000.

Several other institutional investors also recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its holdings in shares of Energy Recovery by 3.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,393 shares of the industrial products company’s stock worth $318,000 after buying an additional 395 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Energy Recovery by 10.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,602 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 417 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Energy Recovery by 79.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,264 shares of the industrial products company’s stock valued at $29,000 after buying an additional 558 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in Energy Recovery by 6.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 8,731 shares of the industrial products company’s stock worth $176,000 after buying an additional 561 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Energy Recovery by 0.4% in the third quarter. Nordea Investment Management AB now owns 158,099 shares of the industrial products company’s stock worth $3,290,000 after buying an additional 565 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

Insider Transactions at Energy Recovery

In related news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total transaction of $774,500.00. Following the sale, the director now directly owns 807,055 shares in the company, valued at $12,501,281.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Energy Recovery news, CEO David W. Moon purchased 10,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $15.51 per share, for a total transaction of $166,732.50. Following the purchase, the chief executive officer now directly owns 19,250 shares in the company, valued at $298,567.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total transaction of $774,500.00. Following the sale, the director now directly owns 807,055 shares in the company, valued at approximately $12,501,281.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,457 shares of company stock valued at $1,519,283. Corporate insiders own 4.70% of the company’s stock.

Energy Recovery Price Performance

ERII opened at $13.53 on Thursday. Energy Recovery, Inc. has a one year low of $13.46 and a one year high of $30.76. The business has a 50 day simple moving average of $15.22 and a two-hundred day simple moving average of $17.08. The firm has a market capitalization of $772.29 million, a price-to-earnings ratio of 36.57 and a beta of 1.27.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Energy Recovery had a return on equity of 11.99% and a net margin of 16.75%. The company had revenue of $57.19 million during the quarter, compared to the consensus estimate of $63.57 million. During the same quarter last year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, sell-side analysts expect that Energy Recovery, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.