Wellington Management Group LLP Decreases Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Wellington Management Group LLP cut its stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 310,367 shares of the company's stock after selling 39,100 shares during the quarter. Wellington Management Group LLP owned approximately 0.89% of CECO Environmental worth $9,382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its holdings in CECO Environmental by 118.8% during the fourth quarter. Bank of America Corp DE now owns 100,484 shares of the company's stock worth $3,038,000 after buying an additional 54,551 shares during the last quarter. Raymond James Financial Inc. acquired a new position in CECO Environmental during the fourth quarter worth $7,334,000. Van ECK Associates Corp raised its holdings in CECO Environmental by 41.6% during the fourth quarter. Van ECK Associates Corp now owns 538,092 shares of the company's stock worth $16,267,000 after buying an additional 158,215 shares during the last quarter. Deutsche Bank AG raised its holdings in CECO Environmental by 52.2% during the fourth quarter. Deutsche Bank AG now owns 25,994 shares of the company's stock worth $786,000 after buying an additional 8,910 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 1,967 shares during the last quarter. 68.08% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Peter K. Johansson sold 5,601 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $24.15, for a total transaction of $135,264.15. Following the completion of the sale, the insider now owns 84,660 shares in the company, valued at approximately $2,044,539. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 18.40% of the stock is currently owned by corporate insiders.

CECO Environmental Stock Down 3.8%

Shares of CECO stock traded down $1.06 on Wednesday, hitting $26.72. The stock had a trading volume of 184,441 shares, compared to its average volume of 284,160. The business has a 50 day moving average of $23.37 and a 200 day moving average of $26.63. The stock has a market cap of $942.36 million, a price-to-earnings ratio of 80.97, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. CECO Environmental Corp. has a 12-month low of $17.57 and a 12-month high of $35.16.

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

Analysts Set New Price Targets

CECO has been the topic of several research reports. HC Wainwright upgraded shares of CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 price objective on the stock in a report on Wednesday, April 30th. Needham & Company LLC upped their price objective on shares of CECO Environmental from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.00.

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.