Squarepoint Ops LLC Makes New $949,000 Investment in CECO Environmental Corp. (NASDAQ:CECO)

Squarepoint Ops LLC bought a new position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 31,391 shares of the company's stock, valued at approximately $949,000. Squarepoint Ops LLC owned about 0.09% of CECO Environmental as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CECO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CECO Environmental by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,652 shares of the company's stock worth $503,000 after purchasing an additional 591 shares during the last quarter. Rhumbline Advisers raised its position in shares of CECO Environmental by 2.7% during the fourth quarter. Rhumbline Advisers now owns 40,614 shares of the company's stock worth $1,228,000 after acquiring an additional 1,080 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of CECO Environmental by 127.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock valued at $90,000 after acquiring an additional 1,658 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in 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 acquiring an additional 1,779 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in CECO Environmental by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company's stock worth $7,179,000 after purchasing an additional 1,967 shares during the period. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC boosted their price objective on CECO Environmental from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. HC Wainwright raised shares of CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 price target for the company in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $36.00.

Insider Activity at CECO Environmental

In other news, insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction 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 transaction, the insider now directly owns 62,160 shares of the company's stock, valued at $1,417,248. This trade represents a 26.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 18.40% of the company's stock.

CECO Environmental Trading Up 2.7%

Shares of CECO Environmental stock traded up $0.72 during trading on Tuesday, reaching $27.78. 223,700 shares of the company were exchanged, compared to its average volume of 283,981. CECO Environmental Corp. has a twelve month low of $17.57 and a twelve month high of $35.16. The business has a 50-day moving average price of $23.30 and a 200-day moving average price of $26.62. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $979.75 million, a price-to-earnings ratio of 84.18, a P/E/G ratio of 1.39 and a beta of 1.31.

CECO Environmental (NASDAQ:CECO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $176.70 million during the quarter, compared to analyst estimates 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. Sell-side analysts anticipate that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

CECO Environmental Company Profile

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.