Richard F. Wallman Buys 1,000 Shares of CECO Environmental Corp. (NASDAQ:CECO) Stock

CECO Environmental Corp. (NASDAQ:CECO) Director Richard F. Wallman bought 1,000 shares of CECO Environmental stock in a transaction on Wednesday, February 26th. The stock was purchased at an average price of $25.15 per share, with a total value of $25,150.00. Following the completion of the acquisition, the director now directly owns 207,117 shares of the company’s stock, valued at $5,208,992.55. This represents a 0.49 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

CECO Environmental Stock Up 1.3 %

CECO stock opened at $24.84 on Thursday. 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 Corp. has a 52 week low of $18.50 and a 52 week high of $35.16. The stock has a market capitalization of $868.70 million, a PE ratio of 75.34, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41. The firm has a 50 day moving average of $28.60 and a 200 day moving average of $28.26.

CECO Environmental (NASDAQ:CECO) last announced 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. The firm had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. Sell-side analysts forecast that CECO Environmental Corp. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Private Advisor Group LLC boosted its position in CECO Environmental by 5.8% in the third quarter. Private Advisor Group LLC now owns 16,065 shares of the company’s stock valued at $453,000 after buying an additional 885 shares during the last quarter. Van ECK Associates Corp boosted its holdings 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. Principal Financial Group Inc. increased its stake in shares of CECO Environmental by 17.6% in the third quarter. Principal Financial Group Inc. now owns 22,246 shares of the company’s stock worth $627,000 after acquiring an additional 3,330 shares during the period. Quest Partners LLC purchased a new position in shares of CECO Environmental during the third quarter worth $69,000. Finally, First Horizon Advisors Inc. lifted its position in CECO Environmental by 71.6% during 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. 68.08% of the stock is owned by institutional investors and hedge funds.

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.