North Star Investment Management Corp. bought a new position in CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,000 shares of the company's stock, valued at approximately $1,003,000. North Star Investment Management Corp. owned approximately 0.12% of CECO Environmental at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CECO Environmental by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,652 shares of the company's stock worth $503,000 after buying an additional 591 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of CECO Environmental by 2.7% in the 4th quarter. Rhumbline Advisers now owns 40,614 shares of the company's stock worth $1,228,000 after acquiring an additional 1,080 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of CECO Environmental by 127.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock worth $90,000 after acquiring an additional 1,658 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in CECO Environmental by 18.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,373 shares of the company's stock worth $344,000 after acquiring an additional 1,779 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in CECO Environmental during the 4th quarter valued at $56,000. Institutional investors own 68.08% of the company's stock.
Insider Transactions at CECO Environmental
In other news, insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction that occurred on Monday, March 31st. The shares were 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 owns 62,160 shares in the company, valued at $1,417,248. The trade was a 26.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.40% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
CECO has been the subject of several research analyst reports. 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 report on Wednesday, April 30th. Needham & Company LLC raised their target price on CECO Environmental from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $36.00.
Read Our Latest Stock Analysis on CECO
CECO Environmental Price Performance
Shares of CECO traded down $0.44 during mid-day trading on Thursday, hitting $29.36. 389,372 shares of the company traded hands, compared to its average volume of 288,987. The company has a current ratio of 1.71, a quick ratio of 1.52 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.06 and a beta of 1.35. The business has a 50-day moving average of $24.87 and a 200 day moving average of $26.40. 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 posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $176.70 million for the quarter, compared to the consensus estimate of $151.53 million. CECO Environmental had a return on equity of 10.10% and a net margin of 7.80%. The company's quarterly revenue was up 39.9% on a year-over-year basis. As a group, equities analysts expect 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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