CECO Environmental Corp. (NASDAQ:CECO) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership reduced its position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 77.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,310 shares of the company's stock after selling 344,041 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.29% of CECO Environmental worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P grew its holdings in CECO Environmental by 15.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 445,352 shares of the company's stock valued at $13,463,000 after purchasing an additional 61,156 shares during the period. JPMorgan Chase & Co. lifted its position in shares of CECO Environmental by 15.3% during the 4th quarter. JPMorgan Chase & Co. now owns 16,894 shares of the company's stock valued at $511,000 after buying an additional 2,236 shares in the last quarter. Cruiser Capital Advisors LLC grew its stake in CECO Environmental by 9.7% in the 4th quarter. Cruiser Capital Advisors LLC now owns 43,570 shares of the company's stock valued at $1,317,000 after acquiring an additional 3,868 shares during the period. Advantage Alpha Capital Partners LP purchased a new stake in CECO Environmental in the 4th quarter worth $5,952,000. Finally, Vanguard Group Inc. raised its position in CECO Environmental by 0.6% during the fourth 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. 68.08% of the stock is owned by hedge funds and other institutional investors.

CECO Environmental Price Performance

Shares of CECO stock traded up $0.09 during trading hours on Tuesday, reaching $20.65. The company had a trading volume of 16,140 shares, compared to its average volume of 285,717. CECO Environmental Corp. has a 12-month low of $18.44 and a 12-month high of $35.16. The company has a market capitalization of $722.54 million, a price-to-earnings ratio of 62.37, a PEG ratio of 1.39 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a fifty day moving average of $23.47 and a 200-day moving average of $27.06.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly 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 in the previous year, the company posted $0.28 EPS. The company's revenue was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Insider Activity

In other CECO Environmental news, Director Richard F. Wallman bought 1,000 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was bought at an average price 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 in the company, valued at $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter K. Johansson sold 5,601 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $24.15, for a total value of $135,264.15. Following the completion of the transaction, the insider now directly owns 84,660 shares in the company, valued at approximately $2,044,539. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.90% of the company's stock.

Analyst Upgrades and Downgrades

CECO has been the subject of a number of research reports. HC Wainwright reissued a "neutral" rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Craig Hallum boosted their price objective on CECO Environmental from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Northland Securities raised their target price on CECO Environmental from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, December 20th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $33.00 price target on shares of CECO Environmental in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus 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.