Baillie Gifford & Co. Grows Stake in Energy Recovery, Inc. (NASDAQ:ERII)

Baillie Gifford & Co. lifted its stake in shares of Energy Recovery, Inc. (NASDAQ:ERII) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,119,841 shares of the industrial products company’s stock after purchasing an additional 243,653 shares during the period. Baillie Gifford & Co. owned 1.93% of Energy Recovery worth $16,462,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CWM LLC increased its position in Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after buying an additional 4,177 shares during the last quarter. Avanza Fonder AB bought a new stake in Energy Recovery in the 4th quarter valued at about $107,000. Pinnacle Associates Ltd. purchased a new stake in Energy Recovery during the third quarter valued at about $193,000. SG Americas Securities LLC boosted its position in Energy Recovery by 16.1% during the third quarter. SG Americas Securities LLC now owns 16,293 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 2,263 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Energy Recovery by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 1,433 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on ERII shares. Seaport Res Ptn upgraded shares of Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Evercore ISI dropped their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. B. Riley reduced their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Scotiabank began coverage on Energy Recovery in a report on Thursday, December 5th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Fearnley Fonds cut Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Trading Up 1.3 %

ERII stock opened at $15.29 on Tuesday. The company’s 50 day moving average is $14.94 and its 200 day moving average is $16.35. The stock has a market cap of $885.14 million, a price-to-earnings ratio of 44.97 and a beta of 1.18. Energy Recovery, Inc. has a 1-year low of $12.26 and a 1-year high of $20.27.

Insider Activity

In related news, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the transaction, the director now owns 743,182 shares of the company’s stock, valued at $12,537,480.34. This represents a 2.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.10% of the company’s stock.

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.