Gordian Capital Singapore Pte Ltd boosted its holdings in CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 86.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,098 shares of the company's stock after purchasing an additional 30,598 shares during the quarter. CECO Environmental comprises approximately 1.0% of Gordian Capital Singapore Pte Ltd's portfolio, making the stock its 20th biggest position. Gordian Capital Singapore Pte Ltd owned approximately 0.19% of CECO Environmental worth $1,998,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors boosted its holdings in shares of CECO Environmental by 12.1% in the 4th 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 in the last quarter. Hood River Capital Management LLC boosted its stake in CECO Environmental by 63.0% in the fourth quarter. Hood River Capital Management LLC now owns 1,740,740 shares of the company's stock valued at $52,623,000 after acquiring an additional 673,050 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 9,023 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of CECO Environmental by 2.3% during the fourth quarter. King Luther Capital Management Corp now owns 1,033,789 shares of the company's stock worth $31,251,000 after purchasing an additional 23,239 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of CECO Environmental by 27.2% in the 4th 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. 68.08% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at CECO Environmental
In other news, insider Peter K. Johansson sold 22,500 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $22.80, for a total value of $513,000.00. Following the completion of the transaction, the insider now owns 62,160 shares of the company's stock, valued at $1,417,248. The trade was a 26.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard F. Wallman bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $25.15 per share, for a total transaction of $25,150.00. Following the transaction, the director now owns 207,117 shares of the company's stock, valued at $5,208,992.55. The trade was a 0.49% increase in their position. The disclosure for this purchase can be found here. 16.90% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of brokerages have weighed in on CECO. HC Wainwright upgraded CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 price objective for the company in a research note 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 report on Wednesday, April 30th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $36.00.
View Our Latest Research Report on CECO Environmental
CECO Environmental Price Performance
CECO Environmental stock opened at $27.25 on Thursday. The business has a fifty day moving average of $22.75 and a two-hundred day moving average of $26.46. 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 company has a market cap of $961.05 million, a P/E ratio of 82.58, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31. CECO Environmental Corp. has a one year low of $17.57 and a one year high of $35.16.
CECO Environmental (NASDAQ:CECO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $176.70 million during the quarter, compared to the consensus estimate of $151.53 million. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm's revenue was up 39.9% compared to the same quarter last year. As a group, analysts predict that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.
About CECO Environmental
(
Free Report)
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.
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