Baillie Gifford & Co. Invests $15.24 Million in Energy Recovery, Inc. (NASDAQ:ERII)

Baillie Gifford & Co. acquired a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 876,188 shares of the industrial products company's stock, valued at approximately $15,237,000. Baillie Gifford & Co. owned about 1.51% of Energy Recovery as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in Energy Recovery by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 22,127 shares of the industrial products company's stock worth $294,000 after purchasing an additional 1,330 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Energy Recovery by 8.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company's stock valued at $307,000 after acquiring an additional 1,433 shares in the last quarter. Sentry Investment Management LLC increased its holdings in shares of Energy Recovery by 23.2% in the 1st quarter. Sentry Investment Management LLC now owns 7,627 shares of the industrial products company's stock valued at $120,000 after acquiring an additional 1,438 shares during the period. Rhumbline Advisers raised its position in shares of Energy Recovery by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 95,559 shares of the industrial products company's stock worth $1,270,000 after acquiring an additional 1,893 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in Energy Recovery during the second quarter valued at about $26,000. 83.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ERII. StockNews.com upgraded shares of Energy Recovery from a "sell" rating to a "hold" rating in a research note on Thursday, August 1st. Fearnley Fonds cut Energy Recovery from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 4,207 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $20.06, for a total transaction of $84,392.42. Following the completion of the transaction, the senior vice president now owns 106,367 shares of the company's stock, valued at $2,133,722.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO David W. Moon sold 2,550 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $45,823.50. Following the transaction, the chief executive officer now owns 87,101 shares of the company's stock, valued at $1,565,204.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Rodney Clemente sold 4,207 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.06, for a total transaction of $84,392.42. Following the completion of the sale, the senior vice president now directly owns 106,367 shares of the company's stock, valued at approximately $2,133,722.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,406 shares of company stock worth $828,688 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Energy Recovery Stock Down 1.3 %

Shares of NASDAQ:ERII traded down $0.26 during trading on Wednesday, hitting $19.17. The stock had a trading volume of 323,074 shares, compared to its average volume of 410,084. Energy Recovery, Inc. has a 12-month low of $12.26 and a 12-month high of $20.27. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 56.38 and a beta of 1.22. The stock has a 50-day simple moving average of $17.61 and a two-hundred day simple moving average of $15.61.

Energy Recovery (NASDAQ:ERII - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The company had revenue of $38.60 million for the quarter, compared to the consensus estimate of $37.37 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. Energy Recovery's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Recovery, Inc. will post 0.41 earnings per share for the current year.

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.