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

Baillie Gifford & Co. bought a new stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 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 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ERII. Vanguard Group Inc. boosted its stake in Energy Recovery by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock valued at $47,519,000 after acquiring an additional 53,720 shares during the last quarter. Raymond James & Associates grew its stake in Energy Recovery by 10.1% in the third quarter. Raymond James & Associates now owns 450,909 shares of the industrial products company’s stock worth $7,841,000 after purchasing an additional 41,286 shares in the last quarter. Anchor Capital Management Company LLC grew its stake in Energy Recovery by 18.2% in the second quarter. Anchor Capital Management Company LLC now owns 420,081 shares of the industrial products company’s stock worth $5,583,000 after purchasing an additional 64,581 shares in the last quarter. Millennium Management LLC increased its holdings in Energy Recovery by 130.3% in the second quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after buying an additional 201,770 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Energy Recovery by 82.3% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 273,885 shares of the industrial products company’s stock valued at $3,640,000 after buying an additional 123,664 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Fearnley Fonds cut shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Energy Recovery Trading Down 2.5 %

NASDAQ:ERII opened at $19.43 on Wednesday. The stock has a 50 day moving average of $17.48 and a 200-day moving average of $15.55. The firm has a market capitalization of $1.12 billion, a PE ratio of 57.15 and a beta of 1.22. Energy Recovery, Inc. has a 52 week low of $12.26 and a 52 week high of $20.27.

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

Insider Transactions at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 4,207 shares of the business’s 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 directly owns 106,367 shares of the company’s stock, valued at $2,133,722.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CTO Farshad Ghasripoor sold 10,526 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $189,152.22. Following the sale, the chief technology officer now directly owns 126,961 shares in the company, valued at $2,281,489.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rodney Clemente sold 4,207 shares of Energy Recovery stock in a transaction on Monday, November 11th. The shares were sold at an average price of $20.06, for a total value of $84,392.42. Following the sale, the senior vice president now directly owns 106,367 shares in the company, valued at $2,133,722.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,406 shares of company stock worth $828,688. Insiders own 4.10% of the company’s stock.

Energy Recovery 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.