CECO Environmental Corp. (NASDAQ:CECO) Shares Bought by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lifted its stake in shares of CECO Environmental Corp. (NASDAQ:CECO) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 445,352 shares of the company’s stock after purchasing an additional 61,156 shares during the period. Loomis Sayles & Co. L P owned 1.27% of CECO Environmental worth $13,463,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CECO. Raymond James Financial Inc. acquired a new position in CECO Environmental during the fourth quarter worth $7,334,000. Peregrine Capital Management LLC acquired a new stake in CECO Environmental during the fourth quarter worth about $6,278,000. Thrivent Financial for Lutherans increased its position in CECO Environmental by 53.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 584,712 shares of the company’s stock worth $17,676,000 after purchasing an additional 204,392 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new position in CECO Environmental in the 4th quarter valued at about $5,952,000. Finally, Royce & Associates LP raised its position in shares of CECO Environmental by 27.2% during the 4th quarter. Royce & Associates LP now owns 915,212 shares of the company’s stock valued at $27,667,000 after buying an additional 195,425 shares during the period. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CECO. Northland Securities lifted their price target on shares of CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. HC Wainwright reissued a “neutral” rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 target price on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Craig Hallum increased their price target on shares of CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, CECO Environmental presently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

CECO Environmental Price Performance

CECO stock opened at $23.70 on Friday. The business’s 50-day moving average is $25.69 and its two-hundred day moving average is $27.74. 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 firm has a market capitalization of $829.26 million, a P/E ratio of 71.82, a P/E/G ratio of 1.39 and a beta of 1.43. CECO Environmental Corp. has a 1 year low of $20.00 and a 1 year high of $35.16.

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

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 1,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $25.15 per share, with a total value of $25,150.00. Following the transaction, the director now owns 207,117 shares of the company’s stock, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.90% of the company’s stock.

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.