Principal Financial Group Inc. Acquires 2,247 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Principal Financial Group Inc. boosted its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,493 shares of the company’s stock after acquiring an additional 2,247 shares during the quarter. Principal Financial Group Inc. owned 0.07% of CECO Environmental worth $740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its stake in shares of CECO Environmental by 2.7% in the fourth quarter. Rhumbline Advisers now owns 40,614 shares of the company’s stock worth $1,228,000 after purchasing an additional 1,080 shares during the last quarter. Van ECK Associates Corp lifted its holdings in CECO Environmental by 41.6% during the 4th 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 period. Calamos Advisors LLC grew its position in shares of CECO Environmental by 27.7% in the 4th quarter. Calamos Advisors LLC now owns 112,075 shares of the company’s stock valued at $3,388,000 after buying an additional 24,314 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of CECO Environmental in the fourth quarter valued at about $74,000. Finally, Barclays PLC raised its position in shares of CECO Environmental by 115.0% during the third quarter. Barclays PLC now owns 63,615 shares of the company’s stock worth $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 and hedge funds.

CECO Environmental Stock Down 1.1 %

CECO Environmental stock opened at $24.50 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a market cap of $857.26 million, a PE ratio of 74.24, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41. CECO Environmental Corp. has a fifty-two week low of $20.00 and a fifty-two week high of $35.16. The firm’s 50-day simple moving average is $28.14 and its 200 day simple moving average is $28.17.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Northland Securities upped their target price on CECO Environmental from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, December 20th. HC Wainwright reaffirmed a “neutral” rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of CECO Environmental in a research note on Wednesday, February 26th. Finally, Craig Hallum upped their price target 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CECO Environmental currently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Insider Activity

In related news, Director Richard F. Wallman bought 1,000 shares of CECO Environmental stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average cost of $25.15 per share, with a total value of $25,150.00. Following the transaction, the director now directly owns 207,117 shares of the company’s stock, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.90% of the company’s stock.

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.