Rhumbline Advisers Acquires 1,080 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Rhumbline Advisers boosted its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,614 shares of the company’s stock after purchasing an additional 1,080 shares during the period. Rhumbline Advisers owned about 0.12% of CECO Environmental worth $1,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its stake in shares of CECO Environmental by 466.4% in the 3rd quarter. Van ECK Associates Corp now owns 379,877 shares of the company’s stock valued at $10,082,000 after acquiring an additional 312,803 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of CECO Environmental by 135.9% in the 3rd quarter. Fred Alger Management LLC now owns 312,810 shares of the company’s stock valued at $8,821,000 after acquiring an additional 180,221 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CECO Environmental by 185.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after acquiring an additional 152,893 shares during the last quarter. FMR LLC lifted its stake in shares of CECO Environmental by 23.5% in the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after acquiring an additional 149,777 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of CECO Environmental by 115.0% in the 3rd quarter. Barclays PLC now owns 63,615 shares of the company’s stock valued at $1,795,000 after acquiring an additional 34,027 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors.

CECO Environmental Stock Performance

NASDAQ CECO opened at $24.78 on Thursday. The company has a market capitalization of $867.05 million, a price-to-earnings ratio of 75.09, a PEG ratio of 1.39 and a beta of 1.41. CECO Environmental Corp. has a twelve month low of $19.15 and a twelve month high of $35.16. The stock has a fifty day simple moving average of $28.23 and a 200 day simple moving average of $28.19. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The business had revenue of $158.60 million during the quarter, compared to the consensus estimate of $156.09 million. During the same period in the prior year, the business posted $0.28 earnings per share. CECO Environmental’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts expect that CECO Environmental Corp. will post 0.67 EPS for the current year.

Insiders Place Their Bets

In other CECO Environmental news, Director Richard F. Wallman purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was purchased at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the acquisition, the director now owns 207,117 shares in the company, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CECO shares. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price target on shares of CECO Environmental in a research note on Wednesday, February 26th. Northland Securities increased their price target on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Craig Hallum increased their price objective on CECO Environmental from $34.00 to $40.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, HC Wainwright restated a “neutral” rating on shares of CECO Environmental in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

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.