Boston Partners Makes New $539,000 Investment in CECO Environmental Corp. $CECO

Boston Partners purchased a new position in CECO Environmental Corp. (NASDAQ:CECO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,641 shares of the company’s stock, valued at approximately $539,000.

Several other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of CECO Environmental by 15.3% during the fourth quarter. JPMorgan Chase & Co. now owns 16,894 shares of the company’s stock worth $511,000 after buying an additional 2,236 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of CECO Environmental by 2.4% during the fourth quarter. Wells Fargo & Company MN now owns 134,656 shares of the company’s stock worth $4,071,000 after buying an additional 3,139 shares in the last quarter. Invesco Ltd. grew its holdings in shares of CECO Environmental by 4.2% during the fourth quarter. Invesco Ltd. now owns 486,130 shares of the company’s stock worth $14,696,000 after buying an additional 19,697 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of CECO Environmental during the fourth quarter worth about $7,334,000. Finally, Capital International Investors grew its holdings in shares of CECO Environmental by 12.1% during the fourth quarter. Capital International Investors now owns 1,971,334 shares of the company’s stock worth $59,593,000 after buying an additional 212,476 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Jason Dezwirek sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $43.54, for a total value of $1,306,200.00. Following the completion of the sale, the director directly owned 200,000 shares of the company’s stock, valued at $8,708,000. This trade represents a 13.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Claudio A. Mannarino sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $41.51, for a total value of $830,200.00. Following the completion of the sale, the director directly owned 77,589 shares of the company’s stock, valued at approximately $3,220,719.39. The trade was a 20.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,000 shares of company stock valued at $5,128,900. Insiders own 16.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Northland Securities set a $51.00 price objective on CECO Environmental in a report on Wednesday, July 30th. Lake Street Capital reiterated a “buy” rating and set a $56.00 price objective on shares of CECO Environmental in a report on Wednesday, July 30th. Needham & Company LLC increased their price objective on CECO Environmental from $34.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. HC Wainwright increased their price objective on CECO Environmental from $33.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Citigroup restated an “outperform” rating on shares of CECO Environmental in a research note on Wednesday, July 30th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, CECO Environmental has an average rating of “Buy” and a consensus price target of $49.20.

CECO Environmental Stock Down 0.1%

CECO stock opened at $44.61 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.34 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $34.17 and a two-hundred day moving average price of $27.64. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 2.60 and a beta of 1.39. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $47.40.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $185.39 million during the quarter, compared to the consensus estimate of $178.66 million. CECO Environmental had a return on equity of 10.00% and a net margin of 7.99%. Analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

CECO Environmental 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.