Richard F. Wallman Acquires 1,000 Shares of CECO Environmental Corp. (NASDAQ:CECO) Stock

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman purchased 1,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was acquired at an average cost of $25.15 per share, with a total value of $25,150.00. Following the completion of the purchase, the director now directly owns 207,117 shares of the company’s stock, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

CECO Environmental Stock Down 1.2 %

Shares of NASDAQ:CECO opened at $24.88 on Friday. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The stock’s 50-day moving average is $28.42 and its 200 day moving average is $28.22. The company has a market cap of $870.28 million, a PE ratio of 75.40, a P/E/G ratio of 1.39 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $158.60 million for the quarter, compared to analysts’ expectations of $156.09 million. During the same period in the previous year, the firm earned $0.28 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Sell-side analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on CECO. Northland Securities lifted their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. HC Wainwright reaffirmed a “neutral” rating on shares of CECO Environmental in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $33.00 price objective on shares of CECO Environmental in a research note on Wednesday. Finally, Craig Hallum raised their target price on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, CECO Environmental presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Institutional Investors Weigh In On CECO Environmental

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC increased its position in shares of CECO Environmental by 63.0% during the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company’s stock valued at $52,623,000 after buying an additional 673,050 shares during the period. Voya Investment Management LLC boosted its position in CECO Environmental by 6,409.3% during the 4th quarter. Voya Investment Management LLC now owns 645,853 shares of the company’s stock valued at $19,524,000 after acquiring an additional 635,931 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of CECO Environmental by 466.4% during the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock worth $10,082,000 after acquiring an additional 312,803 shares during the period. Raymond James Financial Inc. purchased a new position in shares of CECO Environmental during the 4th quarter worth approximately $7,334,000. Finally, Capital International Investors raised its position in shares of CECO Environmental by 12.1% in the 4th quarter. Capital International Investors now owns 1,971,334 shares of the company’s stock worth $59,593,000 after acquiring an additional 212,476 shares in the last quarter. 68.08% of the stock is owned by hedge funds and other institutional investors.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.