Algert Global LLC Raises Stake in CECO Environmental Corp. (NASDAQ:CECO)

Algert Global LLC raised its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,610 shares of the company’s stock after purchasing an additional 5,672 shares during the quarter. Algert Global LLC owned 0.35% of CECO Environmental worth $3,508,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Driehaus Capital Management LLC lifted its holdings in CECO Environmental by 37.4% during the second quarter. Driehaus Capital Management LLC now owns 586,249 shares of the company’s stock valued at $16,913,000 after purchasing an additional 159,485 shares in the last quarter. AQR Capital Management LLC raised its position in shares of CECO Environmental by 95.6% during the second quarter. AQR Capital Management LLC now owns 124,672 shares of the company’s stock valued at $3,597,000 after buying an additional 60,925 shares during the last quarter. Hood River Capital Management LLC bought a new stake in shares of CECO Environmental during the second quarter valued at approximately $15,495,000. Thrivent Financial for Lutherans bought a new stake in shares of CECO Environmental during the second quarter valued at approximately $11,857,000. Finally, Sei Investments Co. raised its position in shares of CECO Environmental by 41.3% during the second quarter. Sei Investments Co. now owns 99,089 shares of the company’s stock valued at $2,859,000 after buying an additional 28,960 shares during the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Northland Securities lifted their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Roth Mkm lifted their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Craig Hallum lifted their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC boosted their price target on shares of CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, HC Wainwright boosted their price target on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental presently has a consensus rating of “Buy” and an average target price of $34.80.

Insider Buying and Selling at CECO Environmental

In other news, Director Richard F. Wallman acquired 10,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were acquired at an average price of $28.77 per share, for a total transaction of $287,700.00. Following the completion of the transaction, the director now directly owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 16.90% of the company’s stock.

CECO Environmental Trading Down 2.8 %

Shares of CECO opened at $28.20 on Tuesday. The company’s fifty day moving average is $27.93 and its 200 day moving average is $25.93. CECO Environmental Corp. has a fifty-two week low of $15.27 and a fifty-two week high of $31.55. The stock has a market capitalization of $985.20 million, a PE ratio of 80.57, a P/E/G ratio of 1.99 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business had revenue of $137.50 million for the quarter, compared to analysts’ expectations of $143.33 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. Sell-side analysts expect that CECO Environmental Corp. will post 0.93 earnings per share for the current fiscal year.

About CECO Environmental

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.