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

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

CECO Environmental Trading Up 2.7 %

Shares of NASDAQ:CECO opened at $25.18 on Friday. The business’s 50-day moving average is $28.51 and its 200 day moving average is $28.24. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. CECO Environmental Corp. has a 1 year low of $18.50 and a 1 year high of $35.16. The firm has a market capitalization of $880.77 million, a P/E ratio of 76.31, a P/E/G ratio of 1.39 and a beta of 1.41.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data 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. The firm had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, research analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. 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 valued at $59,593,000 after buying an additional 212,476 shares during the last quarter. Hood River Capital Management LLC raised its stake in CECO Environmental by 63.0% in the 4th quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company’s stock worth $52,623,000 after acquiring an additional 673,050 shares during the last quarter. Vanguard Group Inc. lifted its position in CECO Environmental by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 1,648,674 shares of the company’s stock worth $49,839,000 after acquiring an additional 9,023 shares during the period. King Luther Capital Management Corp grew its stake in CECO Environmental by 2.3% during the 4th quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company’s stock valued at $31,251,000 after purchasing an additional 23,239 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in shares of CECO Environmental by 27.2% in the fourth quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock valued at $27,667,000 after purchasing an additional 195,425 shares during the period. Institutional investors and hedge funds own 68.08% of the company’s stock.

Analysts Set New Price Targets

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

About CECO Environmental

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.