Driehaus Capital Management LLC Acquires 159,485 Shares of CECO Environmental Corp. (NASDAQ:CECO)

Driehaus Capital Management LLC increased its holdings in CECO Environmental Corp. (NASDAQ:CECO) by 37.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 586,249 shares of the company’s stock after buying an additional 159,485 shares during the quarter. Driehaus Capital Management LLC owned about 1.68% of CECO Environmental worth $16,913,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC increased its holdings in CECO Environmental by 45.3% in the 2nd quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after buying an additional 708 shares in the last quarter. EntryPoint Capital LLC bought a new stake in CECO Environmental in the 1st quarter worth about $72,000. SG Americas Securities LLC bought a new stake in shares of CECO Environmental during the 2nd quarter valued at about $201,000. Kessler Investment Group LLC grew its stake in shares of CECO Environmental by 27.8% during the 2nd quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after purchasing an additional 1,560 shares during the period. Finally, Arizona State Retirement System bought a new stake in shares of CECO Environmental during the 2nd quarter valued at about $239,000. 68.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

CECO Environmental Stock Performance

NASDAQ CECO opened at $29.01 on Friday. The company has a market cap of $1.01 billion, a P/E ratio of 82.89, 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. The business’s 50 day moving average price is $27.97 and its 200-day moving average price is $25.86. CECO Environmental Corp. has a fifty-two week low of $15.27 and a fifty-two week high of $31.55.

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

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 10,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were bought at an average price of $28.77 per share, with a total value of $287,700.00. Following the transaction, the director now directly owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.90% of the stock is currently owned by corporate 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.