Jones Financial Companies Lllp Raises Position in CECO Environmental Corp. (NASDAQ:CECO)

Jones Financial Companies Lllp grew its position in CECO Environmental Corp. (NASDAQ:CECO) by 127.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,963 shares of the company’s stock after acquiring an additional 1,658 shares during the period. Jones Financial Companies Lllp’s holdings in CECO Environmental were worth $90,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake in shares of CECO Environmental by 71.6% in the third quarter. First Horizon Advisors Inc. now owns 1,416 shares of the company’s stock valued at $40,000 after purchasing an additional 591 shares during the period. Rhumbline Advisers lifted 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 valued at $1,228,000 after purchasing an additional 1,080 shares during the period. Principal Financial Group Inc. lifted its stake in shares of CECO Environmental by 10.1% in the fourth quarter. Principal Financial Group Inc. now owns 24,493 shares of the company’s stock valued at $740,000 after purchasing an additional 2,247 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of CECO Environmental in the fourth quarter valued at about $74,000. Finally, Quest Partners LLC acquired a new stake in shares of CECO Environmental in the third quarter valued at about $69,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Insider Activity at CECO Environmental

In other news, Director Richard F. Wallman acquired 1,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired 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 of the company’s stock, valued at approximately $5,208,992.55. This represents a 0.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.90% of the company’s stock.

CECO Environmental Stock Performance

Shares of CECO opened at $23.25 on Monday. The company has a 50-day moving average of $27.17 and a two-hundred day moving average of $27.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The stock has a market cap of $813.52 million, a P/E ratio of 70.46, a PEG ratio of 1.39 and a beta of 1.43. CECO Environmental Corp. has a 12-month low of $20.00 and a 12-month high of $35.16.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings data 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 business had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.09 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 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, research analysts predict that CECO Environmental Corp. will post 0.67 EPS for the current fiscal year.

Analysts Set New Price Targets

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

CECO Environmental 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.