Bank of America Corp DE Has $3.04 Million Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Bank of America Corp DE boosted its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 118.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,484 shares of the company's stock after acquiring an additional 54,551 shares during the quarter. Bank of America Corp DE owned approximately 0.29% of CECO Environmental worth $3,038,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CECO. Rhumbline Advisers raised its position in shares of CECO Environmental by 2.7% in the fourth quarter. Rhumbline Advisers now owns 40,614 shares of the company's stock valued at $1,228,000 after purchasing an additional 1,080 shares during the period. Jones Financial Companies Lllp raised its position in shares of CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock valued at $90,000 after purchasing an additional 1,658 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of CECO Environmental by 18.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,373 shares of the company's stock valued at $344,000 after purchasing an additional 1,779 shares during the period. Charles Schwab Investment Management Inc. increased its position in CECO Environmental by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company's stock worth $7,179,000 after acquiring an additional 1,967 shares during the period. Finally, Geode Capital Management LLC increased its position in CECO Environmental by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 691,705 shares of the company's stock worth $20,916,000 after acquiring an additional 2,218 shares during the period. Institutional investors own 68.08% of the company's stock.

Insider Buying and Selling

In related news, insider Peter K. Johansson sold 22,500 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $22.80, for a total transaction of $513,000.00. Following the completion of the sale, the insider now directly owns 62,160 shares of the company's stock, valued at approximately $1,417,248. This represents a 26.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.40% of the stock is owned by company insiders.

CECO Environmental Price Performance

NASDAQ CECO traded up $0.71 on Tuesday, hitting $27.77. 106,943 shares of the company were exchanged, compared to its average volume of 283,564. The firm has a 50 day moving average of $23.30 and a two-hundred day moving average of $26.62. The company has a market cap of $979.39 million, a P/E ratio of 84.15, a P/E/G ratio of 1.39 and a beta of 1.31. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 1-year low of $17.57 and a 1-year high of $35.16.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The company had revenue of $176.70 million during the quarter, compared to analysts' expectations of $151.53 million. The firm's revenue for the quarter was up 39.9% on a year-over-year basis. On average, equities analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

CECO has been the topic of a number of research reports. HC Wainwright raised shares of CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 target price on the stock in a research report on Wednesday, April 30th. Needham & Company LLC lifted their target price on shares of CECO Environmental from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $36.00.

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.