Raymond James Financial Inc. Makes New $7.33 Million Investment in CECO Environmental Corp. (NASDAQ:CECO)

Raymond James Financial Inc. bought a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 242,614 shares of the company's stock, valued at approximately $7,334,000. Raymond James Financial Inc. owned about 0.69% of CECO Environmental as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CECO. Heck Capital Advisors LLC bought a new position in shares of CECO Environmental during the 4th quarter valued at approximately $74,000. Morse Asset Management Inc bought a new stake in CECO Environmental in the third quarter worth $76,000. Jones Financial Companies Lllp lifted its position in CECO Environmental by 127.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,963 shares of the company's stock worth $90,000 after buying an additional 1,658 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in CECO Environmental in the fourth quarter worth $218,000. Finally, Bard Associates Inc. bought a new stake in CECO Environmental in the fourth quarter worth $251,000. 68.08% of the stock is currently owned by institutional investors.

CECO Environmental Stock Up 15.0 %

Shares of CECO traded up $2.89 during mid-day trading on Tuesday, hitting $22.09. The company's stock had a trading volume of 174,062 shares, compared to its average volume of 288,138. The company's 50-day moving average is $22.15 and its 200-day moving average is $26.49. CECO Environmental Corp. has a 52-week low of $17.57 and a 52-week high of $35.16. The firm has a market capitalization of $777.77 million, a price-to-earnings ratio of 66.91, a PEG ratio of 1.39 and a beta of 1.30. 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 (NASDAQ:CECO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $176.70 million during the quarter, compared to analyst estimates of $151.53 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business's revenue for the quarter was up 39.9% on a year-over-year basis. On average, equities research analysts forecast that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Craig Hallum boosted their price objective on shares of CECO Environmental from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, January 6th. HC Wainwright reissued a "neutral" rating on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $33.00 price objective on shares of CECO Environmental in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.20.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, insider Peter K. Johansson sold 22,500 shares of the business's 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 in the company, valued at approximately $1,417,248. The trade was a 26.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard F. Wallman acquired 1,000 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were purchased at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the purchase, the director now owns 207,117 shares in the company, valued at $5,208,992.55. This represents 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 company insiders.

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.