Mainstay Capital Management LLC ADV Purchases Shares of 29,685 Energy Recovery, Inc. (ERII)

Mainstay Capital Management LLC ADV purchased a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 29,685 shares of the industrial products company’s stock, valued at approximately $266,000. Mainstay Capital Management LLC ADV owned about 0.06% of Energy Recovery at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Aperio Group LLC bought a new position in shares of Energy Recovery during the 2nd quarter worth about $132,000. First Trust Advisors LP boosted its position in shares of Energy Recovery by 2.5% during the 2nd quarter. First Trust Advisors LP now owns 563,416 shares of the industrial products company’s stock worth $4,552,000 after purchasing an additional 13,858 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Energy Recovery by 12.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 185,181 shares of the industrial products company’s stock worth $1,497,000 after purchasing an additional 19,772 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Energy Recovery by 55.9% during the 2nd quarter. Manchester Capital Management LLC now owns 31,613 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 11,338 shares in the last quarter. Finally, Cadence Capital Management LLC boosted its position in shares of Energy Recovery by 12.1% during the 2nd quarter. Cadence Capital Management LLC now owns 220,176 shares of the industrial products company’s stock worth $1,779,000 after purchasing an additional 23,777 shares in the last quarter. 33.82% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:ERII opened at $8.18 on Tuesday. The company has a quick ratio of 3.99, a current ratio of 4.22 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $440.05 million, a price-to-earnings ratio of 37.14 and a beta of 5.67. Energy Recovery, Inc. has a 52 week low of $6.17 and a 52 week high of $11.30.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data on Friday, November 2nd. The industrial products company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $22.20 million during the quarter, compared to analyst estimates of $20.63 million. Energy Recovery had a net margin of 48.60% and a return on equity of 12.63%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. Equities analysts forecast that Energy Recovery, Inc. will post 0.19 earnings per share for the current year.

In other news, Director Arve Hanstveit sold 45,708 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $9.15, for a total transaction of $418,228.20. Following the completion of the sale, the director now owns 1,113,945 shares in the company, valued at approximately $10,192,596.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Nocair Bensalah sold 78,244 shares of the firm’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $8.78, for a total transaction of $686,982.32. Following the sale, the vice president now owns 95,000 shares of the company’s stock, valued at approximately $834,100. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,356 shares of company stock valued at $1,380,624. Company insiders own 23.80% of the company’s stock.

A number of research firms have recently issued reports on ERII. B. Riley set a $20.00 price objective on shares of Energy Recovery and gave the stock a “buy” rating in a research report on Monday, August 6th. Zacks Investment Research raised shares of Energy Recovery from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective on the stock in a research report on Wednesday, September 19th. TheStreet upgraded shares of Energy Recovery from a “c” rating to a “b-” rating in a report on Tuesday, August 28th. Finally, BidaskClub upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.25.

COPYRIGHT VIOLATION NOTICE: This article was originally published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://www.com-unik.info/2018/12/04/mainstay-capital-management-llc-adv-purchases-shares-of-29685-energy-recovery-inc-erii.html.

Energy Recovery Company Profile

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.

Further Reading: What is Cost of Capital?

Want to see what other hedge funds are holding ERII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Recovery, Inc. (NASDAQ:ERII).

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

Receive News & Ratings for Energy Recovery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Recovery and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit